When shopping for an LTCI policy, deal with large, well-rated, experienced insurance companies that are sure to be there for you 10 or 20 years down the road when you may need them. They are the ones most likely to keep their premiums stable year after year and honor your claims hassle-free when the time comes to use the benefits. Shop and Compare Shop and compare prices and terms. Price alone is not reason enough to choose one policy over another, and the numbers do not tell the whole story. We suggest looking at the policies of at least two or three big issuers, such as CNA's Preferred Advantage 100, GE Capital's Privileged Care Select II, John Hancock's Advantage Gold Select, Travelers' LTC 4 and UNUM's LTC 94.
Procrastinators pay more.
It may take several weeks to process an application, so if you are nearing a birthday and considering LTCI, don't delay. Some companies will backdate your application up to a month to lock in a lower price. Restrictions may apply if you are 80 years or older at the time of application. Pick a daily benefit based on where you live. Or you may decide you just want to insure part of the daily cost of care and make up the difference from your own funds.