Long term care insurance is different from any other type of insurance.
It is an product only sold in the United States.
It provides help from the cost of long term care for those sick and cannot perform the basic daily activities: -Dressing -Bathing -Eating -Walking -Toileting Even though it's an different kind of insurance one thing that makes it similar to other insurance policy is the fact that it can cost a lot to have.
Here are some ways you can save: 1.
Before you begin looking into any insurance companies first you want to find out if long term care benefits is available through your employer at your job.
2.
Find out if you can add long term care benefits on your existing life or annuity policy.
Combination policies can save you a lot.
3.
Choose a policy with the longest waiting period.
For instance if you choose a 90 day waiting period instead of a 30 day one than you can save up to 30%.
4.
Some companieswill give you up to an 15% discount if you are healthy and in good condition so far.
You can get up to an 10% discount if your coverage is purchased through your workplace.
5.
Another way to make sure you save on your long term care insurance policy is by comparing and analyzing the different insurance policies.
Before you purchase your policy you can ask your agent or yourself these questions: 1.
What kind of care is covered in the policy? 2.
How long is the elimination period? 3.
Does the policy require an pre-existing waiting period? If so how long? 4.
What kind of inflation protection is offered to me? By asking yourself these few questions, and checking out the long term care insurance options available, analyzing them and taking advantage of discount you can save on long term care insurance in Virginia.