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Arizona Long Term Care Insurance

With the state’s popularity for retirees, Arizona long term care insurance is important for many of its residents to carry. However, because it is a relatively recent type of insurance many residents of Arizona are unfamiliar with long term care insurance. The first place to start is with a little knowledge. The more you know about Arizona long term care insurance, the easier your decision will be.

Arizona Long Term Care Insurance Options

When looking to buy an Arizona long term care insurance policy you will be faced with many options to choose from. This is further complicated by the fact that there is no standard policy. Therefore, you need to pick and choose the options which will influence your coverage and your premiums.

Be sure you understand everything you’re faced with before you make any decisions. Below is an explanation of 5 common options you will need to consider.

  1. Elimination Period: The elimination period is the period of time after you become eligible for benefits that you must wait before the policy kicks in. During this time you must pay your own long term care expenses. The period options are commonly 0, 30, 60,  90, 120 or 180 days.

  2. Daily Maximum: The daily maximum is the limit of coverage per day that you will have under your long term care insurance policy. If your care exceeds the daily maximum you will need to cover the excess cost yourself.

  3. Benefit Period: The benefit period is the length of time that you are covered for long term care benefits. You choose it up front when you are purchasing your long term care insurance. The options you have to choose from are usually 1 year, 2 years, 3 years, 5 years or lifetime benefits.

  4. Types of Care Covered: Some plans are very liberal in the types of long term care that they cover, others are very restrictive. You need to choose a plan that covers the type of care that you would prefer if given the choice. If you want to remain in your home as long as possible, it is imperative that you choose something that allows you to have home health care coverage, as opposed to just skilled nursing care or nursing home care.

  5. Flexibility in Coverage Types: If you buy an about Arizona long term care insurance policy now and don’t need to use it for 25 years or more, you may find that the types of long term care have changed. It is important to choose a plan that offers flexibility for what the marketplace may offer in the future.

Arizona Long Term Care Insurance Companies

Because of the lack of stability in the long term care insurance industry, you need to be extra careful when shopping for Arizona long term care insurance. This type of insurance has only been in existence for a little more than 30 years and there have been some major changes.

At one point there were an abundance of insurers offering long term care insurance, however the numbers have dropped dramatically. There was much room for taking advantage of people, especially the elderly; however, stricter laws have managed to control most of those practices.

Before you make your choice of which Arizona long term care insurance company to buy your policy from, be sure to check on the financial stability of the insurer, their rate increase history, their customer service record and complaints on file in your state against them. By getting this information you will be well-equipped to make a good decision.

Some of the insurers who offer long term care insurance in the state of Arizona include:

  1. New York Life

  2. Allianz

  3. Berkshire

  4. John Hancock

  5. Metropolitan Life

  6. Continental

  7. Genworth

  8. Prudential

  9. Transamerica

Arizona Long Term Care Insurance Quotes

If you are looking for Arizona long term care insurance, the first place to look is at a free online quote tool like the one at the top of this page. By using such a tool, you will quickly and easily get multiple quotes on long term care insurance coverage by companies offering policies in the state in which you plan to retire. Get started with your Arizona long term care insurance quote today by simply going to the box above and inputting your zip code to begin!

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