Welcome to our Long Term Care insurance page. If you are retiring with $35,000 – $350,000 in assets, you are a candidate for Long Term Care insurance. Follow the 4 steps that are listed to obtain Long Term Care insurance.
STEP 1 – WATCH
The first step to finding the right Long Term Care plan for you is to have an accurate idea of what you face. Watch the educational video below.
STEP 2 - RESEARCH
Click the photo to the left to find out how much you can expect to pay for Long Term Care in your area of the nation.
If you want to do some more research before you buy Long Term Care, click the photo to purchase our book for Kindle.
$ 4.99
If you prefer to use a planning kit prepared by the Texas Partnership for Long Term Care, click on the brochure cover below.
STEP 3 – CHOOSE YOUR TYPE
There are many variables that you must elect when you choose a Long Term Care insurance plan. Not all insurance plans are the same. Click the photo to learn more about the first choice you will need to make when deciding which Long Term Care insurance plan is best for you.
STEP 4 – ELECT
We work with three different insurance companies. You may review their plans by clicking on the name of the insurance company in which you are interested.
- Genworth - Privileged Choice Flex emphasizes the options that are available to couples. If premiums are current on both policies and one spouse dies, the premiums can be waived for the surviving spouse for 7 of 10 years.
- Mutual of Omaha – Mutual Care is provided by Mutual of Omaha. These plans offer 3 and 5 year pre-packaged Long Term Care benefits. If you are retiring with less than $100,000 in assets, this plan may be all you need.
- John Hancock Life Insurance Co. - Custom Care III is provided by John Hancock Life Insurance Co. This plan is more customizable. It is more expensive but offers more flexibility. I recommend it for retirees with more than $ 100,000 in assets.
- United of Omaha - Assured Solutions Gold is used when there will be a need for cash to pay a family member for providing Long Term Care.
STEP 5 – CONTACT
Once you have watched the educational video, researched the costs of Long Term Care in your area and elected which plan you want, you are ready to contact an insurance agent from a position of power. We have already completed the required paper-work to allow us to work with people in Tennessee and Texas.
Use the form below to contact The Insurance Barn. Once we get it, we will call you to answer any questions that you may still have and help you with the required paper-work.
Underwriting of your application can be frustrating. We will work with you to minimize any frustration that you may have with insurance.
Related articles
- How Do I Pay My Family To Take Care Of Me In My Old Age? (theinsurancebarn.wordpress.com)
- What Are Your Options To Pay For Long Term Care? (theinsurancebarn.wordpress.com)
Great tips! It is important to do your research and ensure that you get good value for your premiums. Shop around and compare various quotes. Long term care insurance is an expensive investment, so you gotta make sure you’re choosing the best possible deal.
Thanks for your comment. I just got back from a LTCI appointment where I did not write the policy because the applicant did not think that he would be able to afford the premiums after he retired. I would feel like a theif taking huge premiums from him only during his working years, especially since he already has good D.I. I know they are not the same plans but he has enough in savings to pay for anything that the D.I. cannot and his house is paid for.
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I wish you as much wisdom as possible as you educate your community. It is hard to get people to plan for Long Term Care when they are young and healthy. Those who are already in poverty can rely on Medicaid but the middle-class have no government program to help them unless they are willing to “spend-down” their life’s savings to poverty levels so they can qualify for Medicaid. The insurance industry does offer several different options but the press has done a good job emphasizing only the most expensive options and ignoring the more affordable options.