How to find lower long term care insurance rates
When you’re looking to lower your long term care insurance rates, the best time to take action is now. Long term care insurance rates are primarily determined by your age and health status at the time you apply. Consequently, long term care insurance rates tend to be lower when you are younger and healthier – making it a wise decision to address your needs for long term care insurance sooner rather than later.
While securing the best long term care insurance rates is a good reason to buy insurance now, there is a secondary benefit – should an illness or accident cause you to need long term care at an early age, you’ll have the ability to pay for it. Many of us make the assumption that long term care (and long term care insurance ) is only for elderly when in reality, more than 40 percent of people who need care are under the age of 65.*
When assessing long term care insurance rates and choosing the best long term care insurance for their needs, many families across America turn to John Hancock.
John Hancock – a leading provider of long term care insurance rates and plans
Founded nearly 150 years ago, John Hancock is a leader among long term care insurance providers today. A John Hancock representative can help you evaluate long term care insurance rates to choose the policy that will work best with your budget and with your overall financial plan. When you purchase a long term care insurance plan from John Hancock, you have the assurance that you will be able to pay for the cost of long term care should you or a loved one need it. You’ll also have more control over the decisions concerning long term care, such as when and where to receive it, and you’ll have the confidence of knowing that you will not become a burden to your loved ones.
Insurance rates depend on how much long term care coverage you need
Long term care insurance rates are affected by several factors:
- Age & Health.
- Length of care. The anticipated duration of care can affect insurance rates – your personal or family health history may lead you to consider purchasing more or less coverage.
- Location of care. Rates for long term care are different in various parts of the country – knowing where you may retire or where you are likely to need care can help you decide how much coverage you need.
*Georgetown University Long-Term Care Financing Project, “Long-Term Care Financing Policy Options for the Future,” June 2007.