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The importance of long term care insurance (for those who need it) cannot be overemphasized. As good and as important as it is, it introduces an additional strain on our budget. You don’t want to even imagine the greater pains that could result if you don’t have it and then end up needing long term care. Here’s a breather: You can get long term care insurance without exceeding your current insurance budget.

I’ve taken for granted that you already have auto, home, health and life insurance policies. For those who fit the bill, here’s how to do it…

Please, note that many insurance companies give discounts if you have multiple policies with them.

This one requires some time commitment as you’ll have to do some shopping and comparisons. We’ll use insurance quotes sites as resources. You’ll have to visit up to five quotes sites (but not less than three). Having your details ready will make it easier and faster for you to obtain quotes. So, get your details ready.

You’ll visit all the sites you’ve chosen and obtain quotes for each policy. Obtain quotes for each of your insurance policies from at least three quotes site. You’ll see high quotes and you’ll see low quotes from different insurance companies. The difference in rates is because of each insurer’s unique way of judging the risk involved in underwriting a person.

Begin to compare quotes for each policy to see the lowest price to value ratio. The lowest quote that does not cut off features of importance to you represents what you should be paying. Subtract what you’re paying currently to see how much you’ve saved. Do this for each of the other policies in turn. The grand total represents your total savings if you switch to those insurers.

Different people will make savings in different ranges depending on how well they researched before buying their current policies and how many policies they currently have. Total savings could be a few hundred dollars or over $3,000!

Some folks will realize enough savings to pay for a long term care insurance policy without spending a dime more (and some change too). Others will have to augment what they saved to pay up.

The probability that this will be the case is higher if you have fewer insurance policies and less extensive coverage.

How much will you save for sure? I don’t know. But you can find out now. The worse case scenario will still see you make savings of a few hundred dollars unless you just did this not long ago.

Here are my favorite sites for long term care insurance quotes and others…

InsureMe Long Term Care Insurance Quotes

Hometown Insurance Quotes

Chimezirim Odimba writes on long term care insurance.

Tags: long term care insurance

 

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