Are All Long-Term Care Insurance Policies the Same?
Every insurance company must file its products and pricing with each state's insurance department before being allowed to market its product. No individual agent, agency, or advisor can offer special deals with Long-Term Care Insurance.
Federal regulations offer essential consumer protections and uniformity between plans, including the triggers required to receive benefits. There are key differences, however. These differences include:
- Pricing: Premiums can vary over 100% between insurance companies for the same benefits.
- Underwriting: Each insurance company has its own underwriting standards, and those rules can vary between insurance companies.
- Available Options: There are various options, known as 'riders,' that are available to add to a policy. Many of these options are common between companies. Still, each company may have unique features and options unavailable with other companies.
What is not the same is the insurance agents or financial advisors that offer these products. There are very few Long-Term Care Insurance specialists nationwide that focus their attention on long-term health care solutions.
Many inexperienced financial advisors and insurance agents typically do not grasp underwriting, policy design, the partnership program, and claims.
With thousands of clients nationwide, Matt McCann has over 20 years of experience helping families prepare for the consequences of declining health and aging. You will be able to shop all the top companies at once. His unique process allows you to speak with Matt on the phone as you view his computer screen on your device. Nothing is easier or safer.
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Matt McCann is licensed nationwide and is certified with the federal/state long-term care partnership program available in most states. Representing the major insurance companies, Matt can help you shop for the best coverage at the best value, shopping all the major insurance companies so you can enjoy peace-of-mind for yourself and for your family.