Things to Look for When Choosing Long Term Care Insurance

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Health Care Coverage during Retirement and other Retirement Planning topics.

What should I look for in a Long Term Care insurance plan?

Things to Look for When Choosing Long Term Care Insurance

Medicare and most insurance policies will not cover long term care such as nursing home facilities, assisted living facilities, and adult day care centers. Even home health care assistance typically isn't covered. This leaves many seniors wondering how they will pay for long term care expenses. The answer is to purchase Long Term Care insurance. These insurance plans will cover a multitude of conditions. Here are some tips on questions you should ask when comparing Long Term Care insurance policies.

What is the policy regarding pre-existing conditions?

What conditions aren't covered by the policy?

When will the coverage start?

Will the premium increase each year?

Is the policy Tax Qualified?

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Retirement Planning Tip Site? Request a Tip Now!


Guru Spotlight
Christina Chan