Shopping for any type of insurance can be a stressful situation. You may not know very much about long-term care insurance, for example, but if you’re in your 50’s or quickly approaching 60 (and most certainly if you’re in your early 60’s), you shouldn’t wait much longer. The sooner you begin a long-term care insurance policy, the better it’s going to be for you as far as cost, accessibility, and even having this option in the first place.
It is certainly easy to shop for long-term care insurance online, but there are a few good, rational reasons why it may be better to sit down and discuss this with an experienced agent or broker from a long-term care insurance company.
Below are three reasons you might want to consider speaking to somebody about this directly.
First, the right policy can protect your family.
You can go online, look up a bunch of information about long-term care insurance policies, and choose one through a website portal, but do you know if this policy is optimal for your family?
If you shop only based on what it may cover, how long it will pay out for, or how much the monthly premium is going to be, you may not realize it, but the policy may not be perfect for your family. The best way to understand this is to sit down with somebody who can go over your finances, your future expectations, and help you determine which long-term care insurance policy is going to protect you and your family, especially in the future.
Second, there are many components to a decent policy.
Do you know how long you would have to pay out-of-pocket before the policy will begin covering long-term care? Do you know exactly what types of long-term care it will cover? Do you understand how long the policy will pay out, what the daily limits are, and so forth?
With so many components to a good policy, it stands to reason you would do well to let somebody with experience from a long-term care insurance company guide you in this process.
Third, you will have questions.
When you have questions, you should ask them. Looking at the FAQ section of the website may answer a few of them, but as noted your specific family dynamics, income, savings, investments, and potential needs will be different than someone else’s.
If you have questions and don’t ask them or don’t get specific, individualized answers, you could potentially choose a policy that doesn’t protect you and your family the way you need and deserve.