| When you consider a life long relationship | | | | interested in, ask for the company's "Annual |
| with a Long Term Care Insurance company, you | | | | Sales Figures for long term care insurance". |
| want to rest in the comfort of knowing that | | | | Also get the total number of Complaints for |
| you have settled on a company with the | | | | both Facility Coverage and for Home Care |
| highest possible ratings and reputation. | | | | Coverage. Then ask for their total "Long term |
| After all, you will need them to be there for | | | | care insurance Complaints Ratio" or "Long |
| you in a pinch when you need to file a claim | | | | term care insurance Complaints per Million". |
| for the specified benefits. | | | | Compare this for several companies to get a |
| | | | feel for consumer confidence. |
| With a serious relationship like long term | | | | |
| care insurance, reliability is really, really | | | | 4. Have your long term care insurance agent |
| important, don't you agree? So our topic | | | | obtain in writing the company's current A.M. |
| today is how to check out a the long term | | | | Best Rating. It must be A- or above. Accept |
| care insurance company to make sure that they | | | | no B+ or lower ratings unless you have health |
| meet the highest standards. | | | | conditions which prevent coverage with a |
| | | | higher rated company. |
| In my opinion, the safest thing to do is to | | | | |
| work directly with the long term care | | | | 5. If you are really serious, you can visit |
| insurance Buyer's Advocate, because you can | | | | the Department of Insurance in person, and |
| be assured that only top companies and | | | | ask to see the "Rate Logs" to determine how |
| policies will be considered. | | | | many times, if any, a company has raised |
| | | | rates on any group of long term care |
| In any case, over ten years as an observer of | | | | insurance poicyholders in your state. A |
| the long term care insurance marketplace, I'm | | | | history of multiple rate increases over more |
| not aware of even one case of fraudulent | | | | than a few years would be a red flag. |
| behavior by an insurance company. | | | | |
| | | | 6. Go to the Public Library - Ask reference |
| Still, it makes good sense to check into a | | | | desk for insurance rating books, specifically |
| long term care insurance company's market | | | | ones like A.M. Best, Weiss Research, S&P, |
| behavior, history, ratings, consumer | | | | Moody's, etc. |
| confidence and their records with state | | | | |
| regulatory agencies. | | | | Do this before you make your commitment to |
| | | | one company or another. Sure, it's a little |
| 1. Call your State Department of Insurance. | | | | work, but you and your family will depend on |
| | | | this long term care insurance company in the |
| 2. Ask for Consumer Assistance. | | | | caregiving years, and that Is a time when you |
| | | | want to minimize hassles. You'll be glad you |
| 3. Request data on long term care insurance | | | | did. |
| companies, then for each carrier you are | | | | |