This is a good question. It can be applied to just about any type of insurance policy an individual is considering, but with long-term care insurance, there may be little they can do that actually affects the cost. Yet, that doesn’t mean there’s nothing that can be done.
It’s not like automobile insurance.
When a person is shopping for automobile insurance, which is a requirement by law in every state for those who have a vehicle on the road, a person’s driving record has a direct impact on just how much the policy will be. Also, the type of vehicle a person drives or owns is going to affect the cost.
If they drive safer, don’t have any speeding tickets, are not involved in accidents, and purchase a practical vehicle that doesn’t have a powerful engine and is not considered a ‘sports car,’ that could dramatically reduce their insurance rates.
When it comes to long-term care insurance, one of the best things is to start early.
A person purchasing a long-term care insurance policy in their 40’s is going to find the policy, per month, to be more affordable than for somebody who starts when they’re in their late 50’s or early 60’s. It also helps to have a good bill of health.
While it may not be like a life insurance policy, a person’s health, personal habits, and other factors could all come into play with regard to the policy, the cost, and other factors. For example, somebody who is a lifelong smoker might experience more expensive rates than for somebody who has never smoked, doesn’t drink very often, and exercises regularly.
How a person takes care of themselves throughout life is going to directly impact the cost of life insurance and long-term care insurance. Family history may also have a role in just how much the policy will cost, but people can’t change their family. They can’t control what happened to their father, mother, grandparents, or others. However, if there is an elevated risk of Alzheimer’s in the family, for example, that could increase the risk factors that also raise the price of the policy.
The best thing anyone can do first is to contact a quality and reputable insurance company that provides long-term care insurance, sit down with a broker, and discuss all aspects of the policy. They may even have insight into other steps that could potentially lower costs.
If you or a loved-one are considering Long-Term Care Insurance Cost in Carmel Valley CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning