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Long-Term Care

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Tips for Buying Long-Term Care Insurance
By Mary Damiano

(Page 3 of 3)

  • Have you re-read the policy and the application to make sure every piece of information is correct? Donít sign on the dotted line without making sure every i is dotted and every t is crossed.

  • Who has the final say over whether or not you qualify for benefits? Often, and insurance companyís doctor can overrule your own doctorís recommendations.

When it comes to buying Long-Term Care Insurance, your most valuable resource is common sense. Donít allow yourself to give in to scare tactics. Make sure every detail is in writing because a detail can mean the difference between qualifying for benefits or being declared ineligible, and can cost thousands and thousands of dollars. If something sounds to good to be true, it usually is. There is no such thing as a free lunch. Remember that insurance companies are businesses and the only way they can stay in business is to make money and be profitable. Being profitable means that more money comes in than goes out. Therefore, the more money they can get customers to pay, and the less money they have to pay customers, the more profitable they are. Think about that before you buy anything.



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