Long Term Care Insurance is one of the most widely discussed and volatile markets in the insurance industry
NEW! OPM has announced the 2016 rate increase for existing FLTCIP policy holders. While a small percentage will not receive an increase, the average increase will be 83% and many will receive the maximum increase of 126%!
With changing companies, stricter underwriting guidelines, new gender specific rates and numerous and substantial rate increases, the LTC market requires careful review on the part of the consumer.
SeniorFeds has contracted with most major carriers, including Genworth, Transamerica, Mutual of Omaha, John Hancockand Prudential to insure complete comparisons for the consumer. In addition to direct comparisons between the government’s LTCFeds option and the top commercial carriers, SeniorFeds offers some extremely valuable alternatives to those with medical concerns.
LONG TERM CARE ALTERNATIVES
- New! $500,000 lump sum benefit for home health care and/or nursing home care
- Life Insurance with “chronic care” riders which allow for access to the death benefit in the event of a long term care event. This type of policy allows for lump sum proceeds and prevents future premium increases.
- One of the most troubling concerns in this market is not how a healthy 60 year old will be able to address his or her needs. A far greater concern is for those people who may not be able to qualify through conventional channels.
- SeniorFeds has assembled a package of benefits that may be available to many people who have been declined by the major carriers.
- In most states, we can offer near guaranteed issue Home Health Care Insurance plans which include full coverage for Alzheimer’s and dementia.
- We also may be able to help with “condition specific” exclusions which again, will provide full coverage for Alzheimer’s and dementia.
- If you or your loved ones have been rated or declined for Long Term Care insurance, we may be able to help.