Thinking about long-term-care insurance?

 Readers of my blog know I'm not a fan of long-term-care insurance (LTCI) for a variety of reasons. Check out previous posts. One exception is when LTCI is combined with life insurance and/or an annuity in a hybrid policy. 

But... the Feb. 8 Wall Street Journal features an excellent article by Glenn Ruffenach: LTCI: "First, you should find an agent." 

First, shop for a knowledgeable, independent agent. Ruffenach explains that LTCI "is a ridiculously complicated product." An agent who specializes in LTCI and sells policies from multiple companies is what you need to find to start the process (after you've read and educated yourself). 

Sources: Certification for Long-Term Care has a locator on its website for its graduates: https://www.ltc-cltc.com/

Search online for LTCI experts in your area and ask other trusted professionals (attorneys, financial planners, accountants, tax professionals) if they can recommend a specialist. 

Once you have a few names, it is essential to interview some experts. What you don't want is someone who immediately starts in on policy features and costs. Instead you want someone who takes time to understand your situation and needs and how various options may help... before getting into policy perspectives. 

Questions to ask (from Bill Comfort, a LTCI specialist in Durham, NC): 

Experience: How many years have they sold LTCI? How many policies each year? 

How many insurance companies they represent, whether they sell hybrid as well as traditional policies.

Check out a list of questions at: https://www.comfortltc.com/

A Shopper's Guide to Long-term Care Insurance is a helpful resource from the national Association of Insurance Commissioners. You can find this guide on the NAIC website https://content.naic.org/ but any agent should offer you a copy before you have to ask for one.