As you grow older, you will probably reach a time when you can no longer do basic things like grooming and feeding yourself. According to LongTermCare, 70% of senior citizens above the age of 65 will need long-term care later in life. Long-term insurance is tailored to aid you in paying for that cost and giving you peace of mind that both you and the ones you love are protected financially as you grow old. You should consider some of the top six insurance companies this year:
Northwestern Mutual rated as the best in giving customers satisfaction. This company’s benefit period is either 3 or 6 years, paying $1500-$12000 monthly. The company offers a Training Benefit for a family member or friend at 20% of the maximum monthly limit. However, the company does not provide quotes over the internet, and it will only cover services the provider has approved.
Second is Mutual of Omaha, rated best in giving discounts, with a benefit period of1-5 years PAYING $1500-$10000 monthly and provides a waiver of premium benefit. The policy offers a couple’s discount of 30% and a discount of 15.6% to healthy persons. This insurance policy does not give quotes online, and couples must have legally formalized their union to get the discount.
The best company for financial stability is New York Life, with a benefit period of 2, 3, 5, or 7 years paying $50-$400 daily. It has two insurance options; the standard stand-alone policy and a combination of life insurance and long-term care insurance policies. This policy’s benefit is that it can cover up to 100% of care expenses, and the premiums do not increase on combined policies. The disadvantage of this policy the covered benefits and benefit period options vary by state.
Lincoln Financial tops in giving the best immediate benefits available internationally. The benefit period is 2-7 years and uses an approach of reimbursement benefit. The best insurance for competitive prices is TransAmerica, with a maximum daily benefit of $100-$400 daily. The last is Golden Care Insurance rated the best in market prices. The pool of benefits and daily benefits depends on the company. You should make sure to choose the company with the benefits that suit you best.