List five ways to save money when buying long term care insurance protection in New York State?
A. First, the NYS Partnership insurance program is – in effect – a way to receive a lifetime of coverage by paying for only a few years of insurance protection. Start your planning by becoming familiar with the Partnership Program; and by deciding whether or not it applies to you. Second, check to see if your employer offers GROUP long term care insurance (be sure to find out whether or not it’s PARTNERSHIP coverage). Third, apply before you have another birthday, as your premiums are generally based on your age at the time of application. Fourth, shop for the best price by using an agent that can go to ALL of the insurance carriers for long term care insurance in New York (or to those that specifically offer NYS PARTNERSHIP insurance). Fifth, the ELIMINATION PERIOD (EP) is the time after qualifying for benefits before benefits actually begin. You can lower your premiums by specifying a longer EP. Marital, good-health and joint-application discounts may also apply.
