Friday, January 30, 2015

How to Save on Long Term Care Insurance

One of the hardest decisions to make is whether to purchase long-term care insurance or not. But with its benefit, you will definitely get your money’s worth and even more.

It may take some time to decide if you should get long term care insurance but by considering your retirement budget can help you realize that this product can help strengthen your financial security. It is beneficial since it helps pay for your future long-term care expenses and protect your nest egg.

Once you’ve decided to purchase, then that’s the perfect time to structure your policy based on your needs and save money at the same time.
Here are some tips that can help you save money when buying long-term care insurance:

1. Qualify for Spousal/Partner Discounts
2. Select a Longer Elimination Period
3. Select a Shorter Benefit Period
4. Buying LTCI before Your Next Birthday
5. Learn About Different Types of Inflation Protection
6. Purchase a Long-Term Care Insurance Plan through Your Employer

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