What Is A Good Long Term Care Insurance Policy?

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    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    A good long term care policy should feel your specific needs in case of a long term illness or injury so severe that you are no longer able to work. Things to consider when shopping for long term disability plans are length of coverage, i.e. years benefits pay, plans can go to age 67 now. The elimination period which is the time length you can go without benefits, i.e. 30 days to 360 days. The benefits amount which is the amount paid to you on a monthly basis which can go up to 70% of your current earnings. Riders to consider on your plan should be additional purchase option without proof of insurability, cost of living increases and return of premium in case you never use the coverage. I recommend using an experienced independent broker in order to navigate this maze of coverages in order to get the right plan at the best price.
    Answered on November 2, 2014
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