While long term care insurance is not right for everyone, we do believe that everyone needs to have a plan for long term care—a plan for what you would want to happen if you needed care, a plan for who would be involved, and a plan for how it would be financed.
We offer a complimentary consultation with you to explore whether long term care insurance is the right approach for your planning.
After an initial brief (usually about 10 minutes) phone call to gather some preliminary health information, we will set up a time for an initial consultation. This meeting can be held in our office or via the telephone and internet using a program that allows you to see Betty’s computer screen. If you have a spouse or partner, we highly encourage both of you to participate in this meeting even if you are not considering insurance for both. It is crucial that both of you understand how and when the policy works and how it benefits both the insured and the family members or other loved ones who would be involved at the time care is needed.
During the initial consultation, following our Unique Planning Process, we will work with you to sort out what is most important to you as you consider long term care planning. We may look at available options and costs or that may wait until a second visit.
Since insurance companies set the rates for the policies they offer, the same coverage from the same insurance company will cost the same regardless of the representative that you are working with. We have no control over the cost of the policy. Any change in the rates quotes will be due to a change in the coverage being offered. (The only exception would be if you are eligible for a discount through a plan offered by your employer or an association.)
If we are able to find coverage that fits your needs and your budget there is an application process. For some, this is completed during our first meeting. For others, further discussion and exploration may be needed. When you are ready to move forward, if you are in our office we will complete that paperwork together and submit it from here along with a deposit check payable to the insurance company.
If we are meeting with you from afar, we will complete the paperwork together over the telephone and we will mail it to you to be returned with your signatures and a deposit check.
Easy and painless! The insurance company then reviews the application, generally they request a copy of your medical records, and they usually give you a call to review information and often conduct a brief cognitive test. Some companies will send someone to your home to do some brief medical screening (draw a blood sample, take your blood pressure, etc.).
It usually takes about six weeks for the insurance company to complete their underwriting process and respond to your application. The information comes back to us and we review it with you. At that point you always have a 30 day free look period where you have the option to modify the coverage that you have requested or change your mind all together for a full refund of your deposit.