Details To Provide When Requesting For A Long Term Care Quote

By Author: Katherine Roberts
Total Articles: 28
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It cannot be denied that the United States residents are now starting to fully appreciate the importance and necessity of an LTC insurance plan and more people are now asking for a long term care quote from their chosen insurance provider.

The high and expensive costs of monthly premiums that usually come with private LTC insurance plans must not keep an individual from purchasing his own insurance policy. Delaying or postponing his plan purchase might just also give him bigger problems regarding the financial aspect of this in the future.

According to a survey, an average person who is 60 years old or above would require to receive LTC services at least once in their lifetime and that their stay in a nursing home facility would usually lasts up to three years. This means that an LTC insurance plan is a must-have for all.

Also, it was determined that monthly premiums increase by ten to twelve percent every year, so postponing one’s purchase of LTC plan is a big no-no for it would only cost the individual more in the coming years. It is also strong advised that such insurance policies be purchased while ...
... the individual is young and have good and stable financial resources to compensate for his monthly premiums.

Unknown to some, there are factors that insurance companies consider in order to give a certain policy cheaper policy rates. When properly addressed, an individual may just get the luxury of owning an LTC insurance plan without having to carry the burdens of paying for expensive monthly rates.

When applying or asking for a long term care quote, an individual must provide several basic information to his insurance provider and these details will be the basis of the amount of his potential insurance plan.

One of the most important factors that they consider is the age of the person at the time of his plan acquisition. If the applicant is younger, he has more chances of getting lower monthly rates for insurance plan.

Age also affects the levels of inflation protection that might be given to a certain policy. Younger policyholders can get a compound or an inflation protection based on the Consumer Price Index (CPI) once they had their LTC insurance plans at age 60 and below.

Another consideration is the current health condition of the person and the medical history of his family. This is determined beforehand in order to know if they have hereditary medical conditions or illnesses that the person might acquire in the next few years.

The location where the policyholder would receive his plan’s benefits would also influence the amount of his contract because premiums and other LTC costs vary by state.

Longer benefit coverage period may only mean higher monthly rates. A three-year benefit coverage may be enough for those who do not have serious medical problems while longer benefits coverage might be needed to deal with those who have major and more serious health conditions.

A long term care quote can be requested from an authorized insurance agent or one can try to look and inquire through the online LTC assessment tools that some private insurance providers offer to their clients. These and other pertinent details may be asked in order to get the correct or more appropriate quotation for every person.

Get free long term care quote and information about CLASS act now.