The Long Term Care Consumer Guide



It's impossible to get "instant" quotes for long term care insurance. Long term care insurance premiums are calculated using a relatively complex algorithm, based upon your health history as well as the features that you want in your policy.

To receive comparison quotes from 7 of the leading long term care insurers, please answer the questions below. Within 1 to 2 business days, I will complete your quotes and send them to you along with a policy summary for each policy.

Not all of the fields below are required to be completed--but the more information you provide, the more effectively I can help you. You don't have to be a long term care insurance "expert" to answer the questions. The questions are worded so that someone who is just learning about long term care insurance can answer them.



Contact Information


Your name:

Your email address:

Your street address:

Your city:

Your state:

Your zip code:

Your day phone number:

Your evening phone number:


Policy Information


Do you currently own a long term care policy? If so, how long have you had it in force and what is your current coverage?

Potential Tax Savings: In order to make you aware of the available tax deductions, tax credits, and tax-favored methods for paying for long term care insurance, please check all the boxes that apply to yourself or to your spouse/partner:

 Do you have any type of self-employment income (either part-time or full-time):

Do you own a Health Savings Account (H.S.A.):

Do you usually itemize your federal tax return:

Do you own your own business?:

Are you (or your spouse/partner) an actively employed (or a retired) public safety worker (i.e. police officer, firefighter, paramedic):

Home Healthcare Benefits: Nearly every long term care insurance policy that can be purchased today will pay benefits for qualified care that you receive in any of the four, main "Care Settings": nursing homes, assisted living facilities, adult day care, as well as in-home care. However, some policies pay only 50% to 75% of the benefits when care is received at home. We can design a policy that allows for 100% of the benefits to be used for in-home care.

Check this box if it is important for you to be able to receive as much care at home for as long as possible?:

Cost-Sharing: Check the box at the end of the statement which best describes you:

a) If I (or my spouse/partner) were to need care sometime in the future and the care cost $100,000 each year, I would be comfortable owning a long term care insurance policy that would pay $85,000 towards the cost of care each year; and I would be able to make up the difference in the cost by using some of my own income and/or some of my own savings.

b) If I (or my spouse/partner) were to need care sometime in the future and the care cost $100,000 per year, I would prefer to have a long term care insurance policy that covered nearly every penny of the long term care expenses. I would not want to use my own income and/or savings to help pay for the costs of the care. I would be willing to pay a higher premium for a policy like this that more fully covered the costs of care.

Future Costs of Care: As the demand for care has increased, long term care expenses have risen significantly. Care that currently costs $80,000 per year, is projected to cost almost $200,000 per year 20 years from now.

Is it important for you to have a long term care policy that will grow each year to try to keep pace with the increasing costs of care? If so, check this box here:

Inflation Increases: Nearly every long term care policy has some type of feature to help protect you against the increasing cost of care. There are 2 main types:

Type 1: Some policies are designed in such a way that the premium starts off lower and then the premium goes up 5% or more each year as the benefits increase each year. The benefits in these policies double about every 15 years. This type of policy can double in cost about every every 12 to 15 years.

Type 2: Other policies start off with higher premiums now, but the benefit increases are automatically built into the premium. With this type of policy, the increases in the benefits each year do not make the premium go up each year.

Check the statement which best describes you:

(Type 1) I would prefer a policy that starts off with a lower premium now and have the premium increase each year by 5% or more, as the benefits increase each year:

OR


(Type 2) Even though it starts off with a higher premium now, I would prefer a policy that has the inflation benefits built into the policy from the beginning. This way I will have a more stable and a more predictable premium over a longer period of time:

Protection of Your Assets or Income: Please check ALL that apply.

Is it important for you to protect your assets or your income for:

A disabled child or relative:

Charitable organizations:

Your own financial independence:

The financial independence of your spouse or partner:



If it's NOT important for you to protect your assets or income, check this box::

Daily Benefit Maximum: Long-term care insurance policies usually have a maximum daily benefit amount that is the most the policy will pay out each day for your care.

About how much daily benefit would you like to receive quotes for?:

Benefit Period Length: This determines how long the insurer will pay out the daily benefit to you should you begin to need care. The most common choices are either a three year or five year benefit period.

How long would you want your benefit period to be?:

Your Thoughts about Long Term Care Insurance: Which of these statements most accurately describes your thoughts on long term care insurance?

a) I've decided that long term care insurance is definitely right for me and I plan on purchasing a policy within 3 months or so. Right now I'm looking for information to help me choose the policy that's best for me:

b) I'm not sure if long term care insurance is right for me. To help me decide, I want to see what kind of benefits are available and at what cost.:

c) Right now I want some information about costs and benefits so that I can better plan on when to move forward with a policy. It will probably be at least six months to a year before I plan on purchasing the policy.:

If there are any other matters which are important to you in designing and choosing your long term care policy, please share that information in the box to the right.

Enter any additional details about what benefits you want included in your long term care insurance policy, including any features or benefits that you consider important. Also feel free to enter your thoughts regarding: daily benefit, inflation benefit, benefit period, elimination period, care settings, financial ratings, premium rate stability, etc...:


Health History Information


Health Questions for Yourself: In order for me to get you the best possible rates, please answer the following health questions for yourself.

What is your Date of Birth (MM/DD/YYYY):

List your prescription medications below:


List the reason(s) for which each of your medications has been prescribed:

What is your height:

What is your weight:

Approximately, what was your weight this time last year:

What is your history of tobacco use:



Please provide as much detail as possible in the boxes below if you have been treated for any of the following conditions in the past 10 years:

Stroke, C.V.A or T.I.A. (mini-stroke):


Any type of cancer (except basal cell skin cancer):


Any type Hepatitis:


Any type of Heart Disease:


Any type of of Diabetes:


Any injuries from falls or any broken bones or fractures:


Any surgery or overnight hospital stay (not previously mentioned):


Any chronic illness or any other illness not yet mentioned:


If you have received any type of disability benefits in the past 5 years, please check this box:

Many insurers offer discounts of 20% to 40% when married couples or domestic partners apply together for long term care insurance.

If you are married or have a domestic partner and you want your quotes to include coverage for your spouse/partner, please answer the health questions for your spouse/partner.

Health Questions for Your Spouse/Partner:

What is the name of your spouse/partner:

What is his/her Date of Birth (MM/DD/YYYY):

List his/her prescription medications below:


List the reason(s) for which each of his/her medications has been prescribed::


What is his/her height (approx.):

What is his/her weight (approx.):

Approximately, what was his/her weight this time last year:

What is his/her history of tobacco use:


Please provide as much detail as possible in the boxes below if your spouse/partner has been treated for any of the following conditions in the past 10 years:

Stroke, C.V.A or T.I.A. (mini-stroke):


Any type of cancer (except basal cell skin cancer):


Any type Hepatitis:


Any type of Heart Disease:


Any type of of Diabetes:


Any injuries from falls or any broken bones or fractures:


Any surgery or overnight hospital stay (not previously mentioned):


Any chronic illness or any other illness not yet mentioned:


If your spouse/partner has received any type of disability benefits in the past 5 years, please check this box:

Click on the 'Submit Query'' button and I'll get to work on your long term care insurance quote comparisons. I'll have them completed within 1 to 2 business days.







Terms Of Use | Contact Me

 

More on: care and term
Content copied by FREE Go FTP Client