What Is The Most Critical Factor When Choosing Long Term Care ...

I do not sell long term care insurance.? In fact, I do not sell insurance of any kind.? I am a social worker.? However, during my work with older adults and their families I often need to advocate for clients who are fortunate enough to have long term care insurance policies, and have written several blogs on the topic.

I am always amazed at how proactive some people were in order to have bought policies many years ago when the idea was not so popular.? But the reality is that many of us will need help either to remain in our own homes as we age, or to receive care in a senior community, and the costs can add up very quickly.? Similar to when choosing any other type of insurance,? it is important to understand exactly what you are getting because policies vary tremendously in terms of how much they reimburse, the method of payment, qualifying waiting periods etc. ??But there is one critical factor to consider whose importance is often underestimated?the insurance company itself.

Some insurance companies are very easy to work with.? Their claims processes can be initiated with just a telephone call and a nurse will come out to assess the need.? Others have a claims processes that are so paperwork intensive, require multiple follow up calls, and can be so frustrating to work with that you may end up feeling as if their processes are designed more to deny people?s claims rather than approve them.

So when you?re comparing policies, being sure that you?re comparing apples to apples, remember to do your due diligence with regards to the companies you are considering.? Ask your insurance agent which companies are easier to work with when it is time to file a claim (as long as he/she?doesn?t?represent only one company).? Ask your doctor?s office if?they?ve?ever had contact with any companies and what their impressions were.? A home health care company is often on the front lines and may be able to tell you which companies are easier to work with.? Believe me; you?ll be glad you asked around!

Calling my agent,

Lynn

Tags: Adult Children, aging, Baby Boomers, Elderly, Long Term Care Insurance, Seniors

Source: http://blog.eldercaresolutionsofmi.org/index.php/2012/10/what-is-the-most-critical-factor-when-choosing-long-term-care-insurance/

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