Which is Better – Individual Long-Term Care Insurance Or Group Plans?
More and more companies are beginning to offer long-term care insurance (LTCI) to their employees as part of an overall health care benefits package. And since buying group medical insurance is usually a way to get lower insurance rates, most people automatically assume that the same is true with LTCI policies. However, in most cases individual LTCI policies will be able to offer not only lower premiums, but also better benefits if they are examined in a true apple to apples comparison. Group LTCI can be a good answer for those who have severe health problems, as they may be able to qualify under the simplified underwriting procedures. The same lenient qualifications also drive up the cost of coverage for everyone else in the group. That is why most individual LTCI policies actually cost less for relatively healthy applicants, the underwriting procedures in use effectively screen out most of those costly severe health cases. One of the ways that group LTCI companies hide or mask the in
