Tips On Buying Long-Term Care Insurance

Four important tips on buying long-term care insurance;


If possible, buy a policy that pays for care received in a long term nursing care facility or in your own home.

Most of us, if we had the choice, would probably prefer to stay in our own home as long as possible. Make sure the coverage includes home support as well as facility care.


Can you choose the caregiver or does the insurance company tell you who and what you will receive?

Can your hire your friends or pay your children, or only hire professionals? You may want your daughter to stop by on her way to work and when goin going home each day. To do that she may have to cut back her work hours. Find out if you can pay her with the insurance company’s money.


Do you have to pay for the service up front and be reimbursed later?

It would be preferable to have the insurance company pay the insurance benefit to you, to be used for whatever you want to purchase. It could be housekeeping from a neighbour, lawn care from your grandson or a bath from a home support agency.

Many plans require receipts for all services provided and may pay all but perhaps only a portion of your out of pocket expense if it meets their service critereia.


Who determines if you qualify?

Does the insurance company send out their person or do you pick your own doctor or other health professional to do the assessment? It would be preferable to use your own doctor.

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