Long-Term Care Insurance: The Application & Underwriting Processes
Underwriting is essentially the acceptance of risk in return for payment. In long-term care insurance, this occurs when an applicant becomes a policyholder, paying the insurance company to accept the risk that may require them to pay out claims on the applicant’s behalf. Many people wonder what the application process and the underwriting process for long-term care insurance are about and how it all works. I’ll discuss all of that in this article. Why is underwriting necessary? The answer...Read the rest of this article »Related Articles
Why You Could Be Declined For Long-Term Care Insurance
In most cases, if you are in reasonable health you can expect to be approved for long-term care insurance. But approval is not automatic and there are guidelines that the major carriers use to determine who qualifies. These guidelines are published by each carrier in an underwriting field guide which agents use to help them decide whether someone is a good candidate for long-term care insurance with that company. Many underwriting procedures are fairly standard across the industry. Factors...Read the rest of this article »Related Articles
The Advantages of Long-Term Care Insurance for Couples
Long-term care insurance is a good financial protection vehicle for anyone who has enough assets to protect and can comfortably afford the premiums. It can help ensure that all of the time and effort you have spent on acquiring a sufficient retirement income is not lost due to the rising costs of long-term care. There are several specific advantages for couples purchasing long-term care insurance. Consider this: most often, the healthier spouse acts as the primary caregiver. Without long-term...Read the rest of this article »Related Articles
No Long-Term Care Insurance? Read This!
There are several reasons why consumers may choose not to buy long-term care insurance. Some of those reasons may be based on very sound decisions. For instance, if you have made a thorough investigation into the cost of premiums from several of the financially sound major carriers and have found that the cost is more than you can reasonably bear, then long-term care insurance is not for you. But if you are like most people, the real reason that...Read the rest of this article »Related Articles
Study Reveals Benefits of Starting Long-term Care Planning Pre-retirement
Editor’s Note: When should you be looking into LTCI is a question many Americans are facing. The following press release is reprinted courtesy of the American Association for Long-Term Care Insurance, an LTCI trade organization that recently examined the question of when is the right time for consumers to start to buying long-term care insurance policies. All information in this posting is courtesy of the American Association for Long-Term Care Insurance. Ability to Qualify for Long-Term Care Insurance &...Read the rest of this article »Related Articles
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