Long term care is the types of assistance you will need especially when the day comes you are unable to take care of yourself because of prolonged illness or disability. It can include help with activities of daily living like bathing, eating or dressing with the means of specialized care facilities such as nursing homes, care agencies at home, day care adults, respite care providers and others.
And since there has been a stiff demand of LTC nowadays, the search for a good care provider gets a bit tedious as well. To help ease the search, here are some basic tips to remember when buying for a long term care.
Explore several insurance companies and agents
It is advisable to check with several companies and agents before you buy. Be sure to compare the advantages, limitations and definitions, exclusions and premiums.
Take your time and look for the outline of coverage
Do not let anyone scare you or make a quick decision. Compare outlines of coverage from different companies. Ask around for better options.
Be aware of the various types of policies offered to you
Make sure you know what the policy covers and what it does not. If in doubt, ask your agent before buying. This way, you get to acquaint yourself with the benefits and limitations of the policy you eye to acquire.
Do not buy more than one policy
Analyze what is most necessary and don't go overboard. A long-term care insurance policy which covers both institutional and community-based care is enough. Doing so helps you stick with your resources and prevents you from spending too much.
Review your policy carefully
If you have questions about your insurance, contact your insurance agent for clarification.
Never believe agents who say your health history is not important
Be sure to fill out the application completely and accurately. If an agent completes the application for you, do not sign it unless you have read and ensure that all medical information is correct. Information about your health is wrong; the company may refuse to pay your claims and may even cancel the policy itself.
Don't be fooled by advertisements
Insurance providers nowadays make use of celebrities in endorsing their services just to attract potential consumers. Remember, these people are not insurance experts so it is better if you do not let yourself be misled by such advertisements.
These are only seven guidelines to mention and there are still a lot more. But to ensure you are making the right choices, make these basic tips as your guide in finding the right LTCi you need.
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