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How to Save Money When Buying Long-Term Care Insurance
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These are the ways to save money when buying a long-term care insurance policy:
- If you are married, buy the policy before you get divorced because a spousal discount can be worth anywhere between 25% to 70% off the regular price.
- If you have a partner, buy insurance from a company that will provide discounts for partners.
- Buy the policy while you are still in excellent health because the company might give you a preferred health discount that could take off anywhere between 10% to 20% from the regular price.
- Buy the policy through an affinity program that will provide you with an additional 5% discount or maybe more.
- Buy the policy when you are younger with an inflation factor and let the policy benefits grow. Also the policy will cost you less.
- Right-price the policy, that is, consider a policy with a shorter benefit period rather than an unlimited benefit period.
- A longer elimination period, like a higher deductible, will also save you money, but consider the cost of care in the future.
- Look at policies from companies with high financial ratings that have not increased premiums.
Contact Us for more information at: info@LTCIBenefits.com
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