Official Offers Tips to Those in the Market for Long Term Care Insurance Quote

People who are shopping for a long term care insurance quote may do well to consider some tips being offered by Michigan's top insurance official.

According to commissioner Ken Ross of the Office of Financial and Insurance Regulation, consumers should be well aware of their personal financial situation and entitlement for various government benefits before making a final decision.

"Deciding to purchase long-term care insurance requires a hard look at family health history and personal finances. Sorting out all the options can be confusing," said Ross.

Some of the tips include researching companies for their history of raising rates on such insurance and checking with a financial advisor about the need for a policy. Consumers are also advised to shop around carefully for a policy and if they have minimal savings and assets, to consider whether they would be eligible for government assistance programs.

Consumers should also know exactly what a particular policy covers, especially if one has any pre-existing conditions that could affect eligibility for coverage. With people living longer and facing potentially more expensive treatment needs in their senior years, shopping for the right long term care insurance quote may be more important than ever.