A great resource that is available free for residents of Washington State from the Statewide Health Insurance Benefits Advisors office is a worksheet. This worksheet is designed to help individuals in Washington State who are considering purchasing a long term care insurance policy. The worksheet gives them suggested areas of interest they should pursue when comparing rates between companies.
Calling insurance agents for quotes can be a challenging exercise. Most insurance agents recognize the sensitive nature of long term care insurance and are there to offer their assistance. They’ll need some information to help them determine a quote for the coverage that is required. Some of the information typically requested includes:
The age of the person interested in long term care insurance coverage. Typically the younger you are, the less you can expect to pay in premiums.
The state of health of the insured. If a person suffers from a history of serious health conditions, this will directly affect the cost of long term care insurance.
The type of coverage needed. This can be confusing, but most agents will take the time necessary to explain the different options available in terms of coverage.
The maximum coverage provided. Many long term care insurance companies have either an annual or lifetime maximum in coverage. This information is important when weighing which company is best.
Once an individual has one quote it’s easy to contact other companies to secure more quotes. It’s important to request a quote on the same level and type of coverage with each insurer. It’s also wise to ask about the company’s history and how long they have been serving the area. Armed with all this information, anyone can make an informed choice as to what long term care insurance company will fit their future needs best.