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Are you surprised by these long-term care insurance details?

It doesn’t matter how much you know about long-term care insurance, if the time comes to purchase a policy you should become familiar with the finer details. This is the only way to ensure that you are comfortable with the coverage you are getting.

Most people understand the basics of long term care insurance, including the benefits associated with this type of coverage. Even so, it is possible that you may be surprised by some of the details associated with buying such a policy.

Here are some details that deserve your attention:

— The differences between long-term care insurance companies

— The pros and cons of purchasing a policy at each age

— The cost of long-term care insurance coverage for somebody in your position

— The factors that come into play when issuing a policy

— The underwriting process, including how long it takes and the information that is required of you

— Tax advantages

— How to make a claim for benefits

— Reasons that your policy could be cancelled in the future

As you begin your search for long-term care insurance, nothing should stop you from learning more about the process, including the types of policies that are available and how much it will cost to get the coverage you need.

It is a good idea to understand everything associated with long-term care insurance. From research and buying a policy to making a claim and potentially dealing with a denial, the more you know the better off you are going to be.

Source: New York Life, “10 Things You Need To Know About Long-Term Care Insurance,” accessed Aug. 03, 2015

DarrasLaw is Americas' most honored and decorated disability litigation firm in the country. Mr. Darras has seen more, evaluated more, litigated more, and resolved more individual and group long term disability and long-term care cases than any other lawyer in the United States.

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