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But it's the wrong question! Just do an Internet search or get quotes from a few carriers.
But this approach results in problems.
What insurance company won't say it's the best long term care policy in New York? But companies vary all over the lot in policy features, rate stability, and making good on their commitments.
For the unassisted consumer, narrowing down to the handful of top, really sound carriers is very difficult.
Another problem with the simple question, how much does it cost for a LTC policy, is that no two policies are alike.
You're comparing apples with oranges in most cases.
You could go with a policy that has a lower premium, but actually overpay for what you're getting.
You really want answers to the more nuanced question.
For that you need help from an impartial advisor.
That's a professional who knows the in's and out's of long term care and who doesn't have a vested interest in any single carrier.
But finding such a person is not easy.
Associations seem impartial, but often you'll find they have an arrangement with a single insurance company.
Many states offer good advice, but they end up referring you to a list of carriers without saying which are better, and then you're on your own.
Independent insurance brokers are the best bet for sound, impartial advice, but you need to take care here too.
Some independent brokers aren't so independent; they represent a single insurance company.
Others represent just two or three carriers long term insurance companies.
Others handle many types of insurance -- from health to auto -- so they're not that up on long term care.
Look for a national network of advisors who focused on long term care insurance and that alone, and who knew which carriers were the absolute best, but who don't have a vested interest in recommending any one.
Make sure the network is not a "mom and pop" operation with little or no resources to offer in order to educate the prospective buyer.
Contact a local licensed representative whenever possible.
One of the most common questions is "how much does it cost.
" If your broker is just cranking out quotes all day, they don't know or care what you need.
The best broker will first ask a few questions to determine which policy features you need and don't need.
Then find alternative policies that really fit your need, from A-rated carriers certified in your state.
And finally make sure you get more than one quote so you can make a meaningful comparison.
" Surveys show that more than half of people aged 65 years old need long term care insurance at some point in the lives.
This means that as you get older (typically between 45 and 65) you need to fully understand your long term care insurance options.
The best way to get start started is to educate yourself.
In the state of New York, there are numerous plan options including The New York State Partnership Program which incorporates insurance protection with state guarantees of long term care assistance including, among other benefits, total protection of all assets.
Make sure the long term care insurance broker is NYS Partner Plan Certified.
One of the best ways to start researching a policy is to begin educating yourself.
Visit a site that can help you gain a full understanding of the cost and benefits of a long term care insurance policy.
It's better to create a plan ten years too soon than one day too late.
If your health changes, you might not be able to purchase LTC Insurance.
As you get older, it gets more expensive to purchase your insurance.
If your health changes after you have purchased an LTC policy, the rates will not increase, as they are "locked in" regardless of your age or health condition.
As long term care planning is becoming more prominent in the financial planning process, a specialist solely involved in this matter is necessary.
Finally, find someone who can assist you with your most pressing questions and issues...
someone who has a "no-pressure approach" and multi-company presentation.
You'll be glad you did!
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