Long Term Care Insurance: What To Ask Your Agent

long term care consultation

Meeting with your insurance agent to discuss your long-term care insurance options is your first step towards taking control of how and when you or a loved one will receive care. Your Avery Hall agent is experience and knowledgeable, and most importantly, they are here to help. That’s why it’s important to make the most of your visit and ask the right questions.

1. How much coverage do I need?

Your Avery Hall agent can help you balance what makes sense for your needs, and what makes sense for your budget. Your agent will be able to help you work a LTC insurance policy into your financial future.

There are also different types of LTC insurance, and one may better serve you in your situation than others. The types include Traditional LTC insurance, Long-Term Care Partnership Program, Life Insurance Linked with Long-Term Care, and Annuity Linked With Long-Term Care. Ask your agent about which type is best for you.

2. What does Long-Term Care insurance usually cover?

Long-Term Care insurance usually covers expenses related to assisting a chronically ill person, such as:
– Bathing
– Dressing
– Moving
– Housework
– Money management
– Preparing meals
– Caring for pets

3. How will I receive benefits?

To receive LTC insurance benefits, the beneficiary would have to be diagnosed by a health care professional as chronically ill. A person is classified as chronically ill when they cannot complete at least two daily living activities due to either cognitive function loss or a loss of bodily function.

Your agent can discuss benefit distribution with you, as there are different options for how the benefits would be dispensed, either in a monthly amount or a reimbursement for incurred expenses.

4. What happens if I buy a policy, then don’t need Long Term Care?

Your agent will be able to tell if you will receive anything if you purchase a LTC insurance policy and never receive Long Term Care. Some policies require that Long Term Care be used for the beneficiary to receive any reimbursement, but others may offer a return of premium or death benefit.

5. How does my health history affect the cost of the insurance?

Your age, gender, marital status, lifestyle, health history, and family history can all affect the LTC insurance process. It’s important to be very thorough with your agent and identify any risks that may affect your Long-Term Care insurance policy.

It’s important to start planning for your Long-Term Care insurance early, especially because even if today you don’t need it, tomorrow you might. Sudden medical events like heart attack or stroke can change your ability to care for yourself in a matter of minutes, so preparation is key.

Graphic for Long-term Care

Your Avery Hall agent is here to help you. Contact your agent today with all of these questions and more at 410-742-5111, or request a free quote right here on our website.

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