Top 10 Considerations when Buying Long Term Care Insurance (LTCi)

Your personalized Plan Design will reflect four important selections:

  • Amount. The maximum daily or monthly benefit.  (Choose monthly. )
  • Period.  The number of days or months the benefit will apply.  (Maximum ten years.)
  • Inflation Protection.
  • Elimination Period.  The amount of time you will wait after eligibility and before benefits are paid.

Listed below are the ten most essential considerations that to consider before going ahead with a long term care insurance purchase:

1.    Carrier rating – How stable is the insurance company? Do their customers report trouble in claiming benefits?

2.    Type of policy – Is this the right type of policy that can best answer my needs?

3.    Affordability – Are the premiums well within my budget? Can I still afford to pay premiums if my situation changes in the future?

4.    Insurance agent – Can I depend on and trust my insurance agent to help me make these important decisions?

5.    Coverage for types of care – Will the policy pay for any care services that I may likely need in the future?

6.    Inflation protection options – Does the policy have an inflation protection feature to cover the rising costs of care?

7.    Insurance riders – What insurance riders or additional options do I need to add to my policy so I can maximize my coverage?

8.    Care coordination option – Does the policy come with care coordination services?

9.    Benefits – What is the optimal total benefit amount I should get to cover all my care needs but still keep the policy affordable?

10.    Partnership Program certified – Does the policy come with the advantages of being certified for the state’s Partnership Program?

New York State residents: for a complimentary consultation and review of available options, please call me at (518) 346-2115



About Daniel G. Alcorn
My financial services career began in the late 70's in New Hampshire. My career path includes 19 years in Vermont where I served as Senior Vice President of the state's largest commercial bank. I relocated to New York's Capital Region in 2003 where I now enjoy helping individuals and families with their Life, Medicare and Long Term Care insurance decisions. Let's connect online at and

One Response to Top 10 Considerations when Buying Long Term Care Insurance (LTCi)

  1. Pingback: The value of voluntary long-term care. | Daniel G. Alcorn

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