1 / 1

How Can I Save On Long-Term Care Insurance?

Long Term Care insurance can protect you and your family from the financial burden of caring for a loved one, but it can be pricey. The good news is there are many options to keep cost down. Finding the sweet spot is especially important when you look for long-term care insurance. That's because your cost is generally set for the life of the policy. Policy costs are based on your age when you apply and your health. If you are eligible for long-term care insurance through your employer it's definitely worth looking into the plan. Now that you know ways to save, why not see what a policy actually costs. Start exploring group health insurance and match your situation to the best plans. To know more details please visit here https://www.iii.org/article/how-can-i-save-long-term-care-insurance<br>

Ashley09
Download Presentation

How Can I Save On Long-Term Care Insurance?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How Can I Save On Long- Term Care Insurance? Long Term Care insurance can protect you and your family from the financial burden of caring for a loved one, but it can be pricey. The good news is there are options to keep costs down. The tips below will help you save money wisely, but don’t rely on price alone. Company financial stability Because you may not collect for decades to come, be sure to buy from a company that has been around for some time and is financially stable. You may want to look up, from an independent rating agency, the financial strength ratings of a company you're considering. Percentage of income Keep the premium for your long-term care insurance policy to 7 percent of your income, or less. For example, if your monthly income is $4,000, the long-term care insurance premium should not be more than $280 per month. (This is what the National Association of Insurance Commissioners recommends in its Model Regulation for Long-Term Care Insurance.) Another expert advises that the income to use in this calculation isn’t your current income, but your expected income in retirement, since that’s the income from which you’ll be paying premiums for most of the policy’s existence. Source: iii.org w w w . c a p b l u e c r o s s . c o m

More Related