‘Tis the season for Black Friday sales and bargain shopping. So why not look for creative ways to save on retirement protection? Even Long Term Care (LTC) insurance has certain discounts and savings available. Get to know the discounts and options available to save you money on LTC coverage.
Marital (Partner) Discount
Are you married or have a long-term domestic partner? You may qualify for a marital or partner discount with certain LTC insurance carriers. You may be eligible to save up to 15% on your premiums just by being in a long-term relationship when applying for coverage.
Interested in applying for LTC coverage with your spouse or partner? If both of you apply and are approved, you’ll save even more with the spousal discount offered by many carriers. This hefty discount can range from 30% to 40% savings for you and your spouse or partner.
Applying with your spouse also gives you access to unique riders only available when you and your spouse or partner apply for coverage. Speak with a LTC specialist to learn more about options available for couples.
Are you in excellent health? If so, you may qualify for a preferred health discount which could save you even more on your premiums.
LTC insurance is bought with your health. If underwriting determines you’re eligible for a preferred health discount, good health can benefit you in more ways than one.
When you buy LTC insurance through your employer, you have access to group rates or discounts on coverage. These group rates or discounts may also be extended to your spouse, parents, in-laws, and other family members. Some employer plans even offer employees reduced underwriting.
You’ll spend less on LTC coverage offered through your employer than you would by buying an individual policy on your own. If your employer offers LTC insurance coverage, it’s worth considering.
Are you a member of a doctor, lawyer, or other association group offering discounts to members? Some associations are contracted with LTC insurers to offer members a 5% discount on LTC insurance premium rates. Ask your association what discounts are available to you and if LTC insurance discounts are an option. If it’s not currently an option, consider encouraging leadership to sign up.
Valued Client Discount
Some LTC carriers offer valued client discounts for having multiple lines of coverage with the same carrier. If you have Life or other insurances through an LTC insurance carrier, ask if a valued client discount is available.
With high long term care costs, and low long term care facility staff, purchasing LTC insurance now is a wise decision. Make this the year you protect your retirement and give yourself peace of mind. You will never regret having a plan in place and giving your family a resource for your care.
"Make this the year you protect your retirement and give yourself peace of mind. You will never regret having a plan in place and giving your family a resource for your care."
At LTC Consumer, we work hard to find our clients the best deals when buying LTC insurance. If you’re interested in learning more ways to save on coverage, contact us today to speak with an LTC specialist about plans and options.
Still not sure? Check out our testimonials page!