Mutual of Omaha
- It is especially beneficial for single men aged between 50-60 years of age.
- It is fairly priced for married couple at their late 60’s.
- It have a rider that is unique in nature as it provides help to pay benefits for an uninsurable spouse when the other one went to claim it for care.
- Another special feature of it has a inflation benefit option that give access to the policy holder to boost their growth (inflation) percentage in coming time period without going through the health underwriting process.
- Not much beneficiary for married couple under 55years of age.
- For single females of every age it’s not economical and competitive.
- Compared to other LTC insurance companies, the health under writing is more liberal in this company.
- It has a high financial rating among other companies selling long term care insurance.
- It has never increased their rate on policyholders in any long term care policy.
- Upon their LTC care insurance policy they had paid & still continuingly paying dividends. It helps the policyholder to lower the premiums on a longer period.
- There is a certain disadvantage for younger people who have a high/good health maintenance as there is no preferred health discounts.
- Sometimes the premiums are higher here compared to other companies in the sector of same benefits & service.
- It is less flexible in terms of choice than others.
Transamerica Long Term Care Insurance Company
- They have an elimination period for home care of zero days at absolutely free of cost and charges.
- They use a very easy health underwriting for diseases like cancer. Within 6month of your treatment, you can be insured.
- The premium cost maybe less from others on a gender based policy.
- If you are for inflation growth option, then 3% compound step-rated inflation is a great thing.
- The share care option is not a very economical or competitive one.
- California rates are expensive.
Genworth Long Term Care Insurance Company
- Economical and beneficial for younger persons. Also good option for married couples in their 40’s – 50’s.
- Beneficial for California, New York & Indiana based couples.
- It is an interesting tends for the people in a very well maintained health.
- Single women may/will find it expensive in nature.
- For married couples in their late 50’s may find it bit expensive in nature.
- 40% more rates will be charged and applied compared to Genworth’s preferred best rates for Tobacco using personnel & the diabetes person/patient.
Therefore we can now clearly conclude the different advantages and disadvantages these companies have over each another on the field of Long Term Care Insurance.