Friday, October 16, 2009

Your Good Health Today Can Save You 10% - 20% Each Year


Drivers who've had accidents pay more for their car insurance than good drivers who benefit from good driver discounts. When it comes to long-term care insurance protection, individuals who are in good health when they apply for coverage can take advantage of good health discounts. These good health (or preferred health) discounts can reduce the yearly cost of your long-term care insurance protection by 10-to-20 percent. Best of all, once you qualify for a good health discount, you won't lose the annual savings, even when your health changes.

Four Important things to keep in mind:

1) Health changes as we age. Even a simple change that is not life-threatening can cause you to lose the ability to qualify for good health discounts offered by insurers.

2) Each long-term care insurance company sets its own good health standards. An existing health condition that may be acceptable to one company ... may not be acceptable to another.

3) Taking common medications, and even your weight can impact your ability to qualify for good health discounts with some insurers.

4) If one company denies your application for long-term care insurance, another may refuse to insure you. But that's not always true; so seek professional advice BEFORE you apply.