Long Term Care Insurance - Don't wait until it's too late

By Compuquotes Team on July 2nd, 2008

Long Term Care

Long term care insurance can be vitally important if you find yourself hospitalized or incapacitated for a long period of time, yet many people aren't even aware of the existence of this coverage. Some people who know about it tend to put off purchasing it, occasionally leading to regret if they end up being hospitalized or requiring other long term medical attention that they have to pay for out-of-pocket. Obviously long term care insurance would be helpful for people who end up in situations such as that, but the insurance doesn't do much good if the person doesn't decide to go ahead and buy it in advance of them actually needing it.

Long term care insurance can be a very important purchase, though it's important that you don't simply run out and buy the first long term care policy that you find. Different insurance providers may offer different provisions in their long term care insurance, and if you don't take the time to make sure that you know what is and isn't covered in a policy then you might end up not having important coverage when you need it. Be sure to ask for detailed information about what is and what isn't covered by a particular long term care plan, getting clarifications on any parts of the policy that you don't understand. Since insurance is a recurring cost, you're going to want to know exactly what's covered by your plan so that you know you're getting your money's worth.

In addition to asking for specific details about any long term care insurance policy you look at, you should also take the time to shop around at different insurance providers in order to collect quotes about the long term care plans that they offer. Make sure that the quotes contain all of the information that you received when asking for clarifications, since you'll be able to use this information to directly compare the various policies. You're going to be trying to find the policy that presents you with the best value, making sure that you will be receiving the most coverage that you can for the amount that you'll have to pay. If possible, try to get quotes from online insurance companies as well so that you can see how they compare to the quotes that you gather locally.

Once you've begun comparing the various quotes, set aside those that look most promising so that you can better compare their features and costs. If there are any quotes that would be perfect for you if they just had one or two specific features of the other quotes, contact the agent who gave you that quote to begin with and see if there's any way that the features you want could be included. It never hurts to ask, and you may find that the insurance agent will be willing to work with you on your policy in order to make sure that it has exactly the features that you want it to have.

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