Consider your needs: Although it may be difficult, try to anticipate what services you might need in the future and choose a policy that’s right for you. Creating your plan prior to shopping will help you identify and better understand your needs. Visit our Costs to Consider page to learn more.
Shop around: Prices can vary substantially from one company to another, even for policies with similar benefits. Get quotes from several companies before buying a policy. View a list of companies that sell Partnership-qualified policies on the Texas Department of Insurance (TDI) website.
Buy only from licensed companies that are financially sound:
A company’s financial rating by an independent rating service is a helpful indication of the company’s overall financial strength.
Licensed companies belong to a guaranty association that will pay your claim if your insurance company goes broke. If you buy from an unlicensed company and have a claim, it might go unpaid.
Choose companies that have a good track record for customer service: The number of consumer complaints against a company is a good indication of the company’s customer service record. Your family and friends can be a great source of information about a company’s customer service, so be sure to ask them if they’ve had any experience with the companies you’re considering.
Review and consider the company’s 10-year history of rate increases.
Visit the TDI website to compare rate increase histories.
While past increases are not a guarantee or predictor of future increases, you may want to take the rate history into consideration.
Buy from an agent you know and trust: If you buy insurance through the mail or by phone, ask whether the company has a local agent or a toll-free number you can call if you have questions.
Try to find an agent that specializes in long-term care insurance: Because of the many variations in long-term care policies, having an agent with knowledge and experience can help you choose the right coverage for your needs. Agents who sell Texas Long-Term Care Partnership-qualified policies have completed training by the TDI.
Use your "free look period": Insurance companies must give you at least 30 days to look over your long-term care policy after you receive it.
Read the policy carefully to be sure it has the benefits and features you want. If you decide to return the policy within the 30 days, you will get a full refund of any premium paid. It’s a good idea to use certified mail so you will have proof that you returned the policy. Be sure to keep a copy of everything you return.
that sell Partnership-qualified policies on the Texas Department of Insurance (TDI) website.
