This blog post is designed to provide general information on the subjects covered. It is not, however, intended to provide specific estate planning, insurance, tax or legal advice. Please note that LTC Consumer and its representatives do not give financial planning, tax or legal advice. You are encouraged to consult with your tax advisor or attorney concerning your own situation.

Spotlight: Choosing a Long-Term Care Insurance Carrier

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One of the best things about working with an LTC Consumer specialist is that they can offer so many options for your long-term care insurance (LTCI) needs. Our specialists aren’t tied down to one carrier. They listen to your story – your needs, your wishes, your health, your family structure – and find the right carrier for your situation.

How to choose a Long-Term Care Insurance Carrier
We look for quality of company, quality of product, and quality of service.

The insurance market is constantly changing, and LTC Consumer is vigilant about finding the best carriers for overall value for our consumers. We look for quality of company, quality of product, and quality of service. The reason this is so important is because you are purchasing something today that you most likely won’t use for 30 years. We want to make sure that company will still be around to pay your claims when that time comes.

Why Mutual of Omaha is currently at the top

Mutual of Omaha is currently the top carrier choice for all consumer specialists. Mutual of Omaha is a mutual insurance company, as opposed to a stock insurance company. What does that mean? It means that they are owned by policyholders as opposed to stockholders or shareholders. Mutual of Omaha is rated A+ superior with A.M. Best Company and has been offering LTCI options since 1987.

Dan Payne, LTC Consumer specialist, says he appreciates that he can get to know his clients, look at all the carrier options out there, and recommend the best fit for his clients’ circumstances. Payne says he suggests Mutual of Omaha most often, “They make the process easy, their applications are easy to fill out, and they’re accessible – including their underwriters if I have questions.”

“…their underwriting process is simple and streamlined, and they know the market and price accordingly.”

Another specialist, Leilani Filipanko, says she recommends Mutual of Omaha because they have the best financial strength out of all the carriers she represents, their underwriting process is simple and streamlined, and they know the market and price accordingly.

Why another carrier might be the way to go

While Mutual of Omaha is currently the most popular for our specialists and consumers, it’s not always the best option. Again, we listen to your story and find your best fit.

Filipanko mentioned that sometimes if her clients have health issues, then she recommends a different carrier. Also, her clients over the agent of 65 will often have a better chance with another carrier option. Payne said he will suggest his consumers apply with other carriers if they are concerned about unlimited benefits or premiums increasing – that’s the time to look at hybrids.

ShoesChoices2
With so many choices for long term care insurance, let us help you find the best carrier for your situation.

Case Study: Why this person changed carriers

Amelia* originally applied for LTCI with her husband, who had severe health issues. Filipanko suggested they apply with Genworth Financial, as he would have been automatically declined with all other carriers. However, when his application was still declined Amelia then switched to Mutual of Omaha because they offered better pricing and had built-in options she was looking for such as the 40% cash benefit and the ability to have inflation at 2% to reach her price point. Amelia is 62, lives in Texas, and chose a MutualCare Custom Solutions policy with an annual premium of $1,999.51.

It’s always nice to have options, and it’s even better to have guidance. Talk to a specialist about your best long-term care possibilities and get covered today.

*Names have been changed for privacy

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