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A recent Wall Street Journal article (subscription required) by financial columnist Glenn Ruffenach discusses the importance of planning for long-term care and identifies insurance and financial professionals as an important source of guidance for consumers. He says that “your best first step is not to shop for a carrier or policy. Rather, it’s to shop for a knowledgeable, independent agent.”

Ruffenach also points to the National Association of Insurance Commissioners publication “A Shopper’s Guide to Long-Term Care Insurance” as a valuable resource. Most states require financial professionals to provide consumers with a copy of the Shopper's Guide before completing an LTC insurance sale.

The booklet covers a range of questions consumers should consider when making LTC decisions, including:

  • How Much Does Long-Term Care Cost?
  • How Might I Pay for Long-Term Care?
  • Will I Need or Use Long-Term Care?
  • What Types of Policies or Contracts Can I Buy that Provide Long-Term Care Benefits or Coverage?
  • How Are Long-Term Care Benefits Paid?
  • What Shopping Tips Should I Keep in Mind?