Oregon Long Term Care Insurance | Oregon Long Term Care Insurance Comparison
Oregon long term care insurance is a little known financial product that can make a huge difference to the quality of your life should you need it. It is vital to do your research and learn as much as you can in order to make the best decision about long term care insurance in OR. By using an online quote tool, like the one above, you will be able to get the bottom line information that you need for your Oregon long term care insurance.
Oregon Long Term Care Insurance Defined
Oregon long term care insurance is an insurance product that will pay for long term care costs should you need them. Almost half of all people will need this type of care in their lifetime. Therefore if you have assets to protect, want to keep your independence and keep your family from caring for you or financing your care, then long term care insurance is for you.
Things To Check Before Buying Oregon Long Term Care Insurance
As with any investment, education is the key. Be sure to check out the policy and fully understand what you are getting and what you are not getting before you buy.
- Length of Benefit Period – Most people receive long term care for less than 2 years, but it may be much longer in certain cases. You can choose 1, 2,3,4,5 year periods or lifetime.
- Elimination Period – Your choice of a 0, 30, 60 or 90 day waiting period before your benefits kick in will make a big difference to your premium.
- Types of Care Covered – To ensure the most flexibility in your choice of care, be sure the insurer covers home health care as well as nursing home care.
- Inflation Clause – To cover any rises in long term care costs.
- Tax Benefits – Some policies provide tax deductions, while others do not.
In addition, there are many aspects to look into regarding the insurance company, before you take out long term care coverage. Be sure to check on the following things:
- Insurance Company Ratings – A company should have an A or better rating from the independent insurance rating companies like Moody’s or A.M. Best.
- Insurance Company’s State License – The company should be licensed to do business in the state you are in.
- History of Rate Increases – You should find out the frequency of the company’s past rate increases. You don’t want to be hit with them too often or you may end up not being able to afford your coverage.
- Customer Service – Check the company’s customer service history. By doing a quick online search you can discover how quickly a company pays claims, how easy they are to deal with and if they give good overall customer service.
Finding The Cheapest Oregon Long Term Care Insurance
You will likely be paying on your long term care insurance for a long time, therefore price matters. The keys to finding the cheapest Oregon long term care insurance are as follows:
- Shop Around. Policies vary greatly in price and coverage, so be sure to compare.
- Try to pay premiums once a year for a discount.
- Combine your policy with your spouse’s.
- Check into group long term care insurance, particularly if you are high risk for needing long term care.
- Choose a longer elimination period.
- Do not go with the unlimited benefit period. Most people who use long term care need it for less than 2 years.
- Buy your policy early, because the younger you are the cheaper it will be.
Oregon Long Term Care Insurance Companies
Your choice of which Oregon long term care insurance company to go with is an important one. You want to be confident that it will be around to pay benefits should you need them. You also want good service and stable premiums. Choosing a nationally known provider like one of the ones below is a usually a good bet.
- John Hancock
- New York Life
- Metropolitan Life
- Mutual of Omaha
- Mass Mutual
Compare Oregon Long Term Care Insurance Quotes
You can quickly and easily get an Oregon long term care insurance quote by using the quote tool you see at the top of this page. By answering a few quick questions, you will get a variety of quotes that will allow you to compare the different policies and prices out there to make the best decision possible. Get started comparing online OR long term care insurance quotes now!
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