Independent Long-Term Care Insurance Agents

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Understanding Independent Long-Term Care Insurance Agents

What Are Independent Long-Term Care Insurance Agents?

Independent long-term care insurance agents are professionals who offer insurance policies from multiple insurance companies rather than representing a single insurer. This independence allows them to provide a wide range of options tailored to individual needs.

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Key Companies They Represent

  • OneAmerica: Known for comprehensive long-term care solutions.
  • Global Atlantic: Offers diverse financial products including long-term care insurance.
  • Mutual of Omaha: Renowned for customer-focused insurance products.
  • Transamerica: Delivers a variety of insurance and financial services.
  • John Hancock: Specializes in insurance and investment products.
  • Nationwide: Provides a broad spectrum of insurance and financial services.
  • Lincoln Financial: Focuses on life insurance and retirement solutions.

Benefits of Choosing Independent Agents

  1. Diverse Options: Access to a variety of policies from multiple companies.
  2. Personalized Solutions: Tailored insurance plans based on individual needs.
  3. Unbiased Advice: They provide impartial recommendations as they are not tied to one insurer.
Long Term Care Insurance Agents Near Me

Role in Long-Term Care Insurance

  • Policy Selection: Help in choosing the right policy considering coverage, premiums, and benefits.
  • Expert Guidance: Offer expertise in understanding complex policy details.
  • Market Knowledge: Up-to-date information about market trends and policy changes.

Choosing the Right Independent Agent

  1. Check Credentials: Ensure they are licensed and have good industry knowledge.
  2. Assess Their Portfolio: Look at the range of companies and products they offer.
  3. Read Reviews: Consider client testimonials and reviews.

Comparison of Companies Represented by Independent Agents

CompanyFocus AreaNotable Feature
OneAmericaComprehensive LTCFlexible policy options
Global AtlanticFinancial ProductsDiverse investment choices
Mutual of OmahaCustomer FocusStrong customer service
TransamericaInsurance & FinancialsWide range of services
John HancockInsurance & InvestmentsInvestment-oriented products
NationwideInsurance & FinancialsBroad service spectrum
Lincoln FinancialRetirement SolutionsFocused on life insurance
Long Term Care Insurance Agent

Conclusion

Independent long-term care insurance agents provide a valuable service by offering customized insurance solutions from various reputable companies. They ensure that clients receive the best possible advice and policies tailored to their specific needs. If you’re considering long-term care insurance, consulting with an independent agent can offer you a range of options and unbiased guidance.

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Frequently Asked Questions

What is the biggest drawback of long-term care insurance?

One thing to be aware of when buying long-term care coverage is that insurance companies can raise premiums on a group of policies with approval from state insurance departments. It’s important to note that they cannot raise the premium of just one person.

What is the downfall of long-term coverage?

One drawback of long-term care insurance is that, as with any insurance, you can pay premiums for many years without ever needing coverage.

Why do people not plan for long-term care?

There is a common misconception among adults that plans like Medicare and Medigap will cover long-term care costs (LTC). Additionally, some assume that the chances of needing LTC are low. For some, LTC coverage is too expensive, and they have more pressing expenses to address.

Which of the following are not covered by long-term care insurance?

Long-term care service policies often exclude coverage for mental illnesses, although they are required to cover Alzheimer’s Disease, senile dementia, or demonstrable organic brain disease. Additional exclusions include intentionally self-inflicted injuries, as well as alcoholism and drug addiction.

Is a long-term care policy worth it?

Long-term care insurance is a wise investment as it offers excellent value for the money spent. Unfortunately, in today’s world, long-term care expenses are pretty high and beyond the reach of most Americans. Without insurance, individuals may have to use their savings or retirement funds to pay for it.

What percentage of Americans have long-term care insurance?

Only 3.3% of the US population holds long-term care insurance, which is around 7.5 million Americans.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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