Our Long Term Care Insurance Services

Radical Insurance Agency, LLC offers you a wide selection of solutions, including long term insurance average cost, timeline that care will be covered, maximum daily payouts, and inflation riders to name a few. Here are the types of traditional and non-traditional long term care insurance policies to choose from. 

• Group Long Term Care Insurance Policy - this plan is typically purchased through a current or past employer. Policy holders may not need to meet any medical prerequisites to quality of group long term care insurance and usually include options that you can’t find when buying individual long term care insurance. This insurance product comes with lower premiums and convertible to another policy once an employer cancels the group plan. 

• Federal Long Term Care Insurance Policy - this plan is available to current employees, retirees, and former employees of the federal government and eligible relatives. It does not pay a portion of the premiums, which means the long term insurance rates for policies under this program may be the same as that of individual long term care insurance policies.

• Qualified Long Term Care Insurance Policy - this plan offers double tax break advantage, thanks to the Health Insurance Portability and Accountability Act (HIPAA). This is meant for federal employees, which means premium payments are deducted from income and itemized as medical expense. The deduction amount will depend on age with deductible increasing with age. The benefits covered under this type of long term car insurance policy isn’t taxed as income, but qualifying for this long term insurance product is more challenging due to tougher eligibility requirements. 

• Joint Long Term Care Insurance Policy - this plan allows policy holders to buy a single long term care insurance policy to cover more than one person. This is typically purchased by married partners who pool benefits that can be split however required. It features higher premiums than single long term care insurance policies, but are cheaper than two separate long term care insurance plans, making them more cost-effective in the long term. This can be a risky policy, as one spouse may deplete all benefits and leave nothing for the other. 

• Hybrid Long Term Care Insurance Policy - this is a popular option as it combines long-term care insurance and permanent life insurance with additional savings-investment component. Policy holders can take out funds from the policy to cover for long term care costs and the insurance provider pays for care when funds are depleted. The main selling point of hybrid long term care insurance policies is that if a policy holder dies without using long term care, the heirs receive a death benefit.