Questions to Ask Your Agent About Long-term Care

• Is the agent licensed to sell insurance in Minnesota?
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• When did your company last raise rates for long term care policies?
• How long has the company been selling long term care insurance?
• What nursing homes, residential care facilities and home care providers are covered by the policy?
• May I hire anyone I choose to provide personal care or homemaker services under the policy?
• In addition to the questions above, you should:

  • Ask the agent to provide you with an "outline of coverage" so you can compare different policies.
    

  • Check the company's financial standing. Insurance companies are rated by outside rating services, based on each company's assets and surplus. This allows consumers to compare the financial stability of different companies. Ratings services you can check out are: A.M. Best, Standard & Poor's, Moody's