Is a LTC Policy Right for You?

Policies offer varying amounts of coverage. Study a policy, understand what it covers, and determine if the benefits are likely to meet your needs into the future.

The Long-Term Care Insurance Guide includes worksheets to determine if a long-term care policy might meet your needs.

5 Quick Tips

  • Avoid a long-term care policy if you are eligible for Medicaid now.
  • Remember that insurers can increase your premiums in the future.
  • Some experts recommend spending no more than five percent of your income on a LTC policy.
  • You may return a policy within the first 30 days and have any premium refunded.
  • Free counseling and additional information about long-term care insurance is available through the Alaska Commission on Aging.

Factors to Consider

A LTC policy is just one possible component of a comprehensive financial strategy. Here are some additional factors to consider when looking at LTC insurance.

Age and Life Expectancy
Nonforfeiture Provisions
Family Care Situation
Family Health History
Income and Assets