Shopping for long term care insurance; Elder Law, Boston, Raynham and Andover Massachusetts

The cost of nursing home care is expensive. Long term care insurance is purchased to cover your nursing home residence, and can also pay for home care and assisted living. But there can be some problems with this coverage... Probably one of the biggest concerns for long term care insurance is the cost.

Questions to ask when comparing long term care insurance policies; Cohen & Oalican, LLP

There will be lots of questions that you will have when comparing long term care policies, but here are – without a doubt – some of the most important questions to ask:

• This one will be listed first because it is probably the most important; is the long term care insurance company reputable? Are they known to pay claims?
• Look for restrictions in the policy
• How long is the elimination (waiting) period?
• Should you purchase an inflation rider?
• What is the qualification policy?

When should you start looking at policies for long term care insurance?

Deciding when to start looking into purchasing a long term care policy is not an easy decision. It is sort-of a catch-22 situation. If you purchase one when you’re 80 for example, your premium – if they even accept you – will probably way more than you can afford to pay. But, with the way things are changing daily you probably don’t want to look into purchasing a policy when you’re only 50 because you probably won’t need to use it for at least 20 years and who knows what’s going to happen in 20 years…

Attorneys Cohen & Oalican specialize in Elder Law; where protecting your assets and your dignity is their core mission.