Print-Friendly Page Version

Change Type Sizes

• What is long term care insurance?
• Does long term care insurance only cover care in a nursing home?
• Why should I buy long term care insurance?
• When should I apply for long term care insurance?
• Comparing long term care insurance policies
• How much long term care insurance coverage do I need?
• What is a lapse and why are lapse rates important?
• Do long term care insurance rates ever increase?
• What to look for in long term care insurance coverage
• What does it mean to be "tax-qualified"?
• How can long term care insurance keep up with inflation?
• What is a plan of care?
• Do I continue paying premiums while I'm receiving benefits?
• What happens if I stop paying premiums?
• Will I always be able to keep my long term care insurance coverage?

Long Term Care Insurance Basics

What to Look for in a Long Term Care Insurance Policy

When you are shopping for long term care insurance, ask these important questions:

1. What is the financial rating of the insurance carrier?
    
2. Does the carrier have a history of filing for rate increases with state insurance departments?
    
3. What inflation protection options are offered?
    
4. Is the policy priced according to the most recent National Association of Insurance Commissioners (NAIC) guidelines? (This helps ensure the plan's premium stability.)

Use our Benefits and Features Worksheet to help you make an informed decision. The worksheet lists benefits of the FLTCIP with a blank column that you can use to write down the benefits of another long term care insurance plan so that you can compare them side-by-side.

If you need assistance with the worksheet or want financial ratings or other information on competing long term care insurance plans, please call us to speak to one of our Certified Long Term Care Insurance Consultants. They are familiar with a lot of information about competing plans.

[ Back to LTCI Basics ]