Joint Oklahoma Information Network Oklahoma Health Care Authority

Questions To Ask

Questions you should ask before buying long-term care insurance.

Choosing the right long-term care policy can be one of the most important things you do in planning for your future.

1. Ask your agent for an Outline of Coverage. This is a prepared form that summarizes the coverage of the policy.
2. How many premium rate increases has your company had over the last 10 years?
3. What are the company’s rating from “A.M. Best, Standard’s and Poor’s, and Moody’s Investors Service”?*
4. What are your options for inflation protection?
5. What are the tax deductions and/or tax incentives available to me?
6. Make sure you ask your agent what care is covered in the policy.
7. Is there a minimum or maximum age for purchasing a policy?
8. Is prior hospitalization required?
9. Are home care and community services covered?
10. Is there a waiver of premiums in specified circumstances?
11. Under what conditions can the company cancel the policy or change the premiums?
12. Is there a health screening required?
13. What qualifications must be satisfied in order to be eligible for benefits?
14. Will benefits be paid outside of the United States?
15. Is coverage available for mental disorders including Alzheimer’s disease, dementia and senility?
16. Are there specific exclusions? If so, what are the exclusions?
17. Do I have to continue paying premiums after going on the claim?

*These companies may charge you for a rating report service fee for a long-term care insurance report. You can contact them at:

A.M. Best

Moody’s Investor Services

Standard’s & Poor’s Insurance Ratings Service