Watch Out for Long-Term Care Policies That Will Cost You Double
Data from the American Association for Long-Term Care Insurance says that huge price differentials by big insurance companies can nearly double what Americans are charged for long-term care insurance, which can cost hundreds of dollars a year.
"We now see large price differences between leading insurers resulting from pricing approaches, discounts offered and health classifications," says Jesse Slome, director of the association. "People can easily pay 40% to 90% more than they need to, and many people forgo getting this important coverage simply because they fail to understand how to take advantage of discounts still available."
A big part of the problem is the complex formula insurance companies use to price out long-term care costs. It's a process so confusing that Slome advises consulting with a trusted insurance professional to weed out the bad options. Going it alone is a big mistake, he says.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV