What Does It Mean For Long-Term Care Insurance When a Major Company Decides to Step Out of the Market?

By Steve Elliott | February 19, 2018 | Comments Off on What Does It Mean For Long-Term Care Insurance When a Major Company Decides to Step Out of the Market?

For those who pay attention to stocks and investments, they look to details about a particular company to determine its strength, viability, and future focus. For some, when John Hancock withdrew from providing long-term care insurance options, it could have been viewed as a clear sign that this type of insurance policy might not be viable for the foreseeable future. However, the truth is much different.

Long-Term Care Insurance Companies Carlsbad CA - What Does It Mean For Long-Term Care Insurance When a Major Company Decides to Step Out of the Market?

Long-Term Care Insurance Companies Carlsbad CA – What Does It Mean For Long-Term Care Insurance When a Major Company Decides to Step Out of the Market?

Some companies focus on specific aspects to stay strong.

Not every insurance company or investment firm is going to be dedicated to the same things as their competitors. There are some companies and underwriters that are more ideally suited to provide coverage and options for certain types of insurance policies. For example, an insurance company that is dedicated to providing automobile insurance and that comprises more than 70 percent of its focus is not likely going to become involved in long-term care insurance.

They might, but if it doesn’t fit their specific model at the moment or their long-term company goals, it doesn’t make sense to bother with this type of policy. Just because one company has decided to no longer sell long-term care insurance policies doesn’t mean that type of policy itself is no longer viable or reasonable to consider.

There are plenty of insurance companies out there that no longer provide travel insurance, renters insurance, or even homeowners insurance for one reason or another. This doesn’t mean it’s time to run out and cancel all of these types of policies. It simply means for that particular company a change in direction or focus was happening.

If people look for signs to indicate that long-term care insurance is not anything to really look into any longer, they won’t find them. That’s because the cost of long-term care is continuing to outpace inflation and with increased demand for these services, thanks to the Baby Boomer generation that is now retiring, the cost can be prohibitive for some.

Insuring one’s future against the possible need for long-term care could help protect savings, investments, and other options. A long-term care insurance policy may not seem reasonable for everyone, but for those who have invested, who have saved for retirement, and who wish to protect that investment, it is something to seriously consider. Long-term care can cost $50,000 a year or more, and the cost is only going up. A quality long-term care insurance policy from a respectable and reputable company is a great option to consider for most families.

If you or a loved-one are considering Long-Term Care Insurance Companies in Carlsbad CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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