Questions to Ask an Agent
Rudy Roth, Johnson County SHICK Volunteer*
The three most important points to consider before buying a Long-Term Care Insurance policy are:
- Do I really need it?
- What coverage do I need?
- Which insurance company should I select?
Here are some questions I suggest you ask agents as they pitch particular policies to you:
- How long has your company been in business?
- How long has your company been underwriting Long-Term Care Insurance?
- How long has your company been licensed and selling in Kansas?
- Are your Long-Term Care contracts covered by the Kansas Guaranty Fund?
- How many rate increases has your company had nationwide on Long-Term Care Insurance (and when)?
- How many rate increases have you had in Kansas (and when)?
- What is the value of the company’s assets?
- Does the policy I’m considering have a pre-existing condition waiting period?
- Does this contract cover actual expenses, or “usual and customary,” or “prevailing rates,” up to the daily maximum rates?
- Does the elimination period only have to be met once?
- Is the waiver of premium waived for both spouses if only one needs care? (Premiums can be waived after a person is receiving long-term care.)
- When are the premiums waived?
- Does the policy I’m considering specifically cover Alzeheimers, Parkinsons, and senility if diagnosed after we bought the policy? Would a prior hospital stay be required?
- Does this policy cover homemaker services, house modifications, and home medical equipment?
- Is the policy easy to read and understand—with a minimum of legalese?
*SHICK (Senior Health Insurance Counseling for Kansans) is a program offering older Kansans an opportunity to talk with trained community volunteers about Medicare and other health insurance programs. The program also provides assistance with accessing prescription drugs at reduced costs. Information is available for Johnson County seniors at 913-715-8856.
Human Services & Aging
11811 S. Sunset Drive, Suite #1300
Olathe, KS 66061-7056
(913) 715-8800 : voice
(913) 715-8825 : fax
(913) 894-8822 : TTY
E-mail