In today’s economy families are struggling to make ends meet and the thought of saving money is a good idea but in most cases not a reality. There are certain expenses that have to be paid on a monthly basis such as a mortgage, groceries, utility bills, and overall living expenses. These are necessities not luxuries. However, there is one area that families sometime overlook but should try to make a priority. Long Term-Care Insurance is that area. The daily cost of medical care for a family member that is struggling with a serious medical condition is skyrocketing and unfortunately families aren’t able to pay for those expenses in full or in a reasonable time frame. There are many insurance companies that offer these types of plans but trying to find them can be time consuming and overwhelming. I’ve listed a few companies that offer Long-Term Care Insurance coverage and a brief overview of each in hopes that it’ll make your search a little easier.
Life and Health Insurance Foundation for Education is a non-profit organization that provides several different types of coverage, such as Life, Health, Disability, and Long-Term Care Insurance. They are located in Arlington Virginia and can be reached at 888-LIFE-777 or via their website at http://www.lifehappens.org.
Mutual of Omaha is a company that doesn’t look at insurance as a “one-size fits all” product. They offer different types of Long-Term Care plans such as “Mutual Care”, “Long-Term Care1”, and “Long-Term Care 2”. In addition to these plans they offer Life Insurance, Disability, and Medicare Supplemental Insurance. More information can be found on their website at http://www.mutualofomaha.com or by telephone at 800-775-8805.
John Hancock is located in Boston Massachusetts and although I couldn’t find a telephone number where they can be reached, you can contact them via their website at http://www.johnhancock.ltc.com.
When purchasing an insurance plan from John Hancock you will receive “A plan of care”, “Assistance when having to process a claim”, “Reports and information about nursing homes, living facilities, and home heath care providers throughout the United States; “Advice about care giving resources in your community”, and finally “A care advocate who will help you locate the provider that is appropriate for your wants and needs”. These additional benefits are at no charge and consumers are encouraged to utilize all the resources offered by John Hancock.
American Association of Retired Persons also known as AARP has an interactive website at http://www.longtermcare.genworth.com/SimpleEngine/submitAARPLogin.do. You are led through a process to find the best coverage needed. You just follow the steps on their website and you will get a personalized quote. Prices usually range from $25.00 to $474.00 a month depending on the plan chosen. You can contact them via their website or by telephone at 866-660-4117. The AARP Long-Term Care insurance plan is underwritten by Genworth and to access their website go to http://www.genworth.com.
Mag Mutual Insurance offer many plans that are geared towards all different types of people and situations. For example they offer Medical Professional Liability Insurance, Business Owners Policies, Home and Automobile Coverage, Directors and Officers Liability Insurance, Workman’s Comp Insurance, Managed Care Insurance, Medical Office Insurance, Hospital or Healthcare Liability Insurance, Individual Disability Insurance, Long-Term Care Insurance, and Health and Employee Benefits Insurance. Mag Mutual is located in Georgia and can be reached at 800-282-4882 or 866-261-2497.
Because life throws us curve balls that are often unexpected it’s important to be covered in all situations. Whether you are a senior, a parent, or an adult child of a parent stricken by illness, having a plan that will help cover the cost of a loved ones care is not only responsible but necessary.