Allianz Long Term Care
Insurance Company Review
Who Is Allianz Insurance Company?
Allianz Insurance Company was founded in 1896. They are based out of Minneapolis, but offer coverage to all of North America. They offer life insurance plans and long term care insurance.
Allianz Insurance is known for having great customer service and for being a leader in the North American life insurance industry.
Allianz has over 100,000 independent agents, financial planners and registered representatives nationwide to serve you. Of course, none of that matters unless they offer the services you need at a price you can afford.
What Can Allianz Long Term Care
Insurance Company Do For Me?
You want to know if Allianz Life Insurance Company can provide you with long term care insurance with great benefits that will help protect the financial stability you have worked so hard to achieve even in the event you need long term care. Will they protect you even with the rise of long term care cost? Here’s what we found.
Allianz Life Insurance Company has been offering long term care insurance since 1990. They have never raised the customer’s rates on enforced policies. They were ranked 7th for the largest carrier of long term care insurance in 2005.
This is a great place to start. However, you’ll still need a basic understanding of this insurance and how it relates to your specific needs before you can determine if it’s right for you.
What Is A Long Term Care
Long term care insurance is additional medical insurance that will help to cover any medical cost for on-going care that your regular insurance will not cover. This may include nursing home or rehabilitation care, in-home health visits, food preparation and more. With the cost of long term care on the rise many insurance only offer to cover a portion of the medical expenses associated with long term care.
Let’s look at Medicare for example. For those who qualify, Medicare will pick up 20 days of medical expenses and half the tab for the next 80 days. Not only that but they will only provide this coverage if you have been in the hospital for at least 3 days prior to starting long term care. Unfortunately, many people will need care for 6 months or more. Medicare stops covering this long before even the first 6 months is over.
Who picks up the bill after that? You do, unless you have a long term care insurance policy to fall back on.
Who Should Invest In
Long Term Care Insurance?
The older you get, the higher your chances are that you will need some type of long term care, whether it be in-home or facility long term care. Statistics warn that nearly 40% of people over the age of 65 will likely need some type of long term care in their future.
People are living longer lives and the cost of long term care is on the rise. Many seniors will use up their entire life savings or their nest eggs trying to afford the cost of long term care. For those who can’t, children (often already saddled with the costs of caring for their children) are left to pick up the slack.
Is Long Term Care Limited To Seniors?
Although long term care is aimed at seniors it is never too early to inquire about long term care insurance. While long term care insurance will cover you if you are affected by a chronic illness which usually happens later in life, it will also offer you coverage in the event of a disability. Disabilities can happen at any time, young or old. Not only will you be covered in the event of a disability you will also be able to purchase your policy at a lower rate.
With the amount of competition out there long term care insurance rates are at an all time low and this means only good things to you, the consumer. This means you will be able to purchase your long term care insurance policy at a much lower rate than normal and this will get you smaller monthly payments, making long term care insurance even more affordable.
Compare Long Term Care
Insurance Quotes Now!
Now is the best time to purchase long term care insurance. Don’t delay getting in while rates are low. If you wait until later in life, for instance, if you wait until age 70 to purchase a long term care insurance policy, your rates will be double what you would have spent just a few years sooner.
Allianz Life Insurance Company seems to be a reliable option for those of us who want to cover future expenses and provide our families with security and peace of mind.
Start shopping for long term care insurance now!