Shortcut Navigation:

Question for the Money Doctors

Question submitted on Jun 17, 2011.


I want to purchase long term insurance but i don''t know how to figure out which insurance companies are the safest


You are wise to focus on the financial soundness of the long-term care insurance carrier.  While there is no perfect way to predict the future you want to be as sure as possible that your carrier will be around when benefits are needed.

My first suggestion is to find a planner/agent that specializes in long term care insurance.  Since these policies can be very complex, it is important to work with someone that will explain all of the options, and also discuss with you the pros and cons of the different carriers.  Ideally this would be an "independent" agent or planner that has knowledge of the various carriers.  Perhaps your CPA, attorney, life insuruance agent or some other trusted advisor can recommend an agent/planner.

Second, there are many web sites that provide information on the safety ratings of long-term care insurance issuers, as well as other useful information.  For example, the sites for AARP and the American Association for Long-Term Care Insurance provide such information.  While I don't endorse any specific carrier these sites do provide information you might find helpful to supplement the advice of a specialist.

For additional information visit