Tips for purchasing Long-Term Care insurance

  1. Take your time. Be sure you understand the policy you are considering buying, ask questions and don’t be pressured into making a decision.

  2. Make sure you are comfortable with agent, the company and the policy.

  3. Be sure the agent gives you choices and options before you make a final decision.

  4. Always make your check payable to the insurance company and not to the agent.

  5. If you have a complaint about the agent, contact the insurance company he/she represents and the insurance department in your state.

  6. Review your application; it becomes a part of the policy. Notify your agent and the company if there are errors or missing information.

  7. Remember you have a 30-day "free look" - read the policy over carefully before you decide to keep it.

  8. Always contact your original agent before deciding to cancel your Long-Term Care policy and buy a new one.

  9. When you decide on the agent that you choose to do business with, be sure to provide him/her with all the pertinent information.

  10. Review your policy when changes occur in your life to make sure coverage is in line with your needs.

Long-Term Care doesn't have to be a complicated and unpleasant subject. In fact, taking responsibility for your own health and welfare can help you avoid years of poverty or substandard care. Everyone must have a Long-Term Care plan in place that will fit their lifestyle and budget.

Dorothy McMahon, president of McMahon and Associates, is a Long-Term Care Insurance Consultant in Bloomfield Hills, MI. Reach her at (248) 844-9787 or LTCINSUSA@aol.com.

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