Dear Clients and Friends:
Picking the right long-term care insurance company is tricky….read on.
Hello, I would like to buy long-term care insurance for my adult son but my carrier UNUM no longer sells LTC policies. Can you recommend a good LTC insurance carrier? Thanks.
P.S. I am already a happy Davidow client!
As many of you know, I am a big believer in purchasing Long Term Care Insurance. Personally, I have a policy from John Hancock that I purchased when I was only 45 (an age when it is still affordable). Unfortunately, I have been made to understand that John Hancock no longer sells new policies. They are not the only ones, as many companies are getting out of the business. Only a few remain and I cannot tell you which one of those is the best. My best advice is not to zero in on one company, but rather to interview one or more agents who can help you navigate the complicated world of Long Term Care Insurance. The marketplace is constantly changing and it’s best to sit with an insurance specialist to go over your latest options and pricing. We can certainly make a referral offline to some of the best in the industry. We do not sell insurance.
For those of you who cannot afford this insurance (most of you), or have pre-existing conditions (many of you), or are over the age of 84, then this option is not available to you. In such cases, you should talk to us about your only other option, which is Medicaid planning.
Since this question was about purchasing the insurance for a son, it may still be affordable and a viable option. Reach out to me for a referral.
I hope this helps! Please forward this information to your friends and relatives to share these informative answers to some very commonly asked questions.
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Until next time,
peace, health, and happiness,
Lawrence Eric Davidow