How to pick LTC insurance carriers

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Posted: Fri Jan 08, 2010 6:32 am Post subject:

I'd rather ask my agent to get the carrier's current rating (A. M. best) in writing. I'd (at least) expect a rating with A-. On the other hand, people with existing health conditions may not have good options except with that of the B+ or B rated companies.

roddick

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Joined: 05 Oct 2005
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Posted: Fri Jan 08, 2010 5:57 pm Post subject:

Having different underwriting standards does not equate with having lower ratings. If a company is too lenient on underwriting, expect big price increases in the future. If you can't buy LTCi with a strong carrier, don't buy it at all. _________________ Register Now to have your Insurance queries solved.

Guest 1

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Posted: Sat Jan 09, 2010 6:20 am Post subject:

Quote:

If you can't buy LTCi with a strong carrier, don't buy it at all.

What would be your advice for those who can't manage it with a strong carrier? Many out there are not being able to manage it with a good company. Lot of them are wondering as to what could be the next best alternative that would help reduce their risks (at least to an extent).

steven

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Joined: 02 Feb 2006
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Posted: Sat Jan 09, 2010 3:28 pm Post subject:

If one buys long term care insurance with a weak carrier, the carrier may not be around to pay their claims. You can bet that whatever company picks up the business is going to be doing it with giant price increases. Everyone isn't insurable which is why insurance must be purchased before it is needed. _________________ Register Now to have your Insurance queries solved.