- Last Updated on Saturday, 09 March 2013 17:13
- Written by Darrick Wilkins
There are about 20 companies in the Long Term Care Insurance market that offer individual plans. So, how do make sure you choose the right Long Term Care Insurance company when buying the insurance? The top five companies make up 59% of the market, as measured by number of insured policyholders. You of course want to look at those five, but also at least five others to round out the top ten.
It is important to consider that your decision on which Long Term Care Insurance company to buy should not be made on price alone. As with anything you buy, you get what you pay for and the same mantra applies when buying Long Term Care Insurance as well. You want to make sure you go with a Long Term Care Insurance company with high financial strength ratings of an "A" rating or better. Also, it is a better idea to go with a big brand name company because they will typically will not nickel and dime you to death when trying to collect a claim.
If you think about it, the insurance companies with the brand name have it for good reason. Odds are, you have heard of the company because they have been treating customers like you fair for a long time. That brand name is very important to them and they want to make sure they keep the good name that they have worked so hard to build.
Our experience has shown us that companies with the brand name treat clients better than an insurance company that you might not of heard of. At LTC Reviews we work with all the top Long Term Care Insurance companies such as: Genworth Financial, John Hancock, Transamerica, Mutual of Omaha, Mass Mutual, NY Life, Mass Mutual and United of Omaha. We will help you shop and review all of the top Long Term Care Insurance companies before you buy.
Top LTC Companies Financial Strength Rating and Size Category
Sales Rankings for LTCI Review Best Long Term Care Insurance Companies
- Mutual of Omaha: 26.61%, sales for the week trending +
- Genworth: 25.33%, sales for the week trending -
- Mass Mutual: 11.83%, sales for the week trending +
- John Hancock: 12.58%, sales for the week trending +
- Transamerica: 12.34%, sales for the week trending -
- United of Omaha: 6.42%, sales for the week trending +
- Lincoln Financial: 1.89%, sales for the week trending -
The average age people buy Long Term Care Insurance is 59.1 years of age. However, the average age a person needs to use their policy is around 84 years old. With that said, you may buy one of the top ten Long Term Care Insurance companies and not use it for 20 to 30 years in the future. That is why is important to examine the company's financial ratings to make sure that the company you choose will be there to pay your claim when you need care years down the road. The below links are third party companies that rate the financial strength of the Long Term Care Insurance company.
- A.M. Best's Insurance Reports
- Standard and Poor's
When you request quotes from LTC Reviews, we will not only send you side-by-side quotes from the top 10 Long Term Care Insurance companies, but a complete list of all their financial ratings as well. Armed with this objective information you will easily be able to make the call on which company with be the best fit for your unique needs. To learn more simply fill in the form below and we will mail you the information.