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Florida Long Term Care Insurance

In Florida, long term care insurance is even more important than it is in many other states because the Sunshine State is the place where so many people retire. For those planning to retire to Florida, you need to buy long term care insurance for that specific state. Before you take out a policy, be sure to educate yourself well on the facts about Florida long term care insurance.

Reasons You Need Florida Long Term Care Insurance

This may surprise you, but not everyone in the state needs Florida long term care insurance. However, if you fall into one of the categories below, then you definitely need it.

  1. You have assets that you would like to pass on to your surviving loved ones.
  2. You want to avoid being a financial or care burden to your spouse and/or loved ones who have financial concerns already.
  3. You do not want to rely on government assistance for any long term care you might need.
  4. There is a history of certain illnesses in your family that require long term care, especially illnesses that tend to strike early or are particularly debilitating.


Factors Affecting Your Florida Long Term Care Insurance Rates

As with most types of insurance, there are different long term care insurance rates for different individuals. It all depends on the factors that the insurance underwriters take into account when setting rates. These factors include:

  1. The location you plan to retire to
  2. Your age
  3. Your gender
  4. Your overall health
  5. Any preexisting conditions

Tips For Buying Florida Long Term Care Insurance

Keep the following things in mind as you shop for Florida long term care insurance:

  1. Shop around carefully and get several quotes to compare.
  2. Understand what each policy is offering.
  3. Do not purchase a plan that excludes certain illnesses. This is illegal in Florida.
  4. Do not buy more than one long term care insurance policy.
  5. Be completely truthful in answering all questions. The insurance company can cancel your policy or deny claims otherwise.

Florida Long Term Care Insurance Companies

There are several Florida long term care insurance companies which can handle your policy, however it is important to do your research in regards to which company you want to use. This is more important with long term care insurance than with any other type of insurance, because the likelihood of using the insurance is so high and most people will pay into it for many years (even as long as 30 years) before they need it. Finding the best Florida long term care insurance company is certainly possible if one is willing to do their homework.

Be sure to check into the company’s policy on cancellation. It should have a non-forfeiture clause. If you were to stop paying premiums for some reason, this would allow you to still be able to receive some level of benefits.

Learn how the company determines benefits eligibility. There is no industry standard. Some companies require a doctor’s recommendation, the company doctor’s recommendation, a prior hospital stay or other factors. Ideally you should get a policy that requires your own doctor to state that you can no longer perform 2 of the 6 activities of daily living. These ADL’s include:

  1. Eating
  2. Dressing
  3. Using the toilet
  4. Walking
  5. Bathing
  6. Continence

Be familiar with how often the company you choose to use has raised rates and by what percentage. An insurer can and will make across-the-board increases to account for major increases in long term care costs. However, you do not want to take out a policy at one rate and find that you can no longer afford it before you get to the point of needing it.

Below is a partial list of the long term care insurance companies serving the state of Florida:

  • Genworth
  • Metlife
  • New York Life
  • John Hancock
  • Med America
  • Berkshire Life

Get Your Florida Long Term Care Insurance Quotes Now!

When you have done your research, you are ready for a Florida long term care insurance quote. It is very easy to get a variety of quotes to compare and contrast, thanks to online quote tools like the one at the top of this page. By simply answering a few questions, you get multiple quotes from top Florida insurers. Get started finding cheap FL long term care insurance today!

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