While thinking of long term care and what it may cost to purchase insurance, it may be good to think about looking into a long term care group, one that specializes in providing long term care insurance. By dealing with a company that only provides one kind of insurance, you are assured that you get the best possible coverage at the lowest rate possible. It is difficult enough to think of the possibility that you will need long term care, let alone to have to worry about purchasing the right long term care insurance to meet your needs.
OIC Long Term Insurance is a carrier that does nothing but write policies for long term care insurance. As a long term care insurance group, OIC is more likely to know all of the industry standards and costs and be able to provide you with the lowest possible rate. That doesn't mean that you shouldn't check with your regular insurance carrier because they might possibly be able to provide a better quote, especially if you have dealt with them for a number of years.
The important thing to consider with a long-term care group is having someone who knows the answer to your questions or is able to find out in a timely manner. Purchasing long term care insurance is a big decision, and unlike health or life insurance, it's not something about which everyone is knowledgeable. The concept is fairly new compared to health, car, and life insurance, so not everyone has al the answers to questions that a potential policyholder might have. For that reason alone, it may be a good idea to speak with several different insurance agents since some may be more knowledgeable than others.
When working with an insurance group or one that at least has a group of agents experienced in long term care insurance, compare the information that you receive from different ones, and if it differs, that might be a red flag that someone is really not as knowledgeable as you think they are. The time to find out is before you purchase the policy, not afterwards, and certainly before you need the benefits. Ask to see a copy of their long term insurance policy and read it all the way through to make sure it has exactly what you need and are expecting. If the information is different from what you have been told, you are then able to ask questions and ascertain just what coverage is being offered at the price you have been quoted. If it's not in writing, there is nothing you can do about it later. Be certain that everything you want is there in the beginning. Use the reviewing period to read over everything before you make a final decision.
