What Impacts the Cost of a Long-Term Care Insurance Policy
There are many factors that affect insurance policy costs. Most people are familiar, at least to some degree, with automobile insurance. That’s because for anyone who has a car on the road, they need to have insurance. Just about every state has the same law with regard to this. There are several things that can affect the long-term care insurance cost of a policy.
Long-Term Care Insurance Cost Carlsbad CA – What Impacts the Cost of a Long-Term Care Insurance Policy
Somebody who has an impeccable driving record, who is in their 40’s or 50’s, has never had an accident or even a moving violation of any kind will likely have much lower insurance rates than somebody who has been involved in numerous accidents in the last seven years, multiple speeding and other moving violations, and who has generally proven they are a risk on the roads.
The same basic concept of risk is associated with other insurance policies. Whether it’s life insurance, health insurance, or a long-term care insurance policy.
When you are looking into insurance of any kind, you have to understand that risk is a major factor that impacts the cost of the policy on a monthly or yearly basis.
Below are a few you might want to consider when searching for a policy for yourself and/or your spouse or other dependents for long-term care insurance cost.
Your age
Just like with a life insurance policy, the older you are, the more expensive the policy will likely be. That’s because the risk increases with age. Once you move through your 30’s and are cruising beyond your 40’s, your body is beginning to slow down. It becomes more difficult to add muscle or even maintain what you have.
That is just the beginning of the natural aging process that begins to diminish your ability to stay safe, agile, and free of health issues.
The older you are, the more likely a policy will increase with regard to cost. It’s also important to realize if you wait too long, you could be denied a long-term care insurance policy altogether.
Family history
If there’s a family history of Alzheimer’s, for example, that means there is an increased risk you might develop it, too. Because of that, a long-term care insurance policy rate might increase.
Your history of health issues
If you have chronic health issues, diseases, or other related challenges in your life, that could impact the cost of a long-term care insurance policy.
The sooner you look into and begin a policy, though, the more affordable it will likely be. If you wait too long, you could be out of luck or paying far more than you can afford on a monthly basis.
If you or a loved-one are considering Long-Term Care Insurance 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.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning
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