A research states that 70% of people above the age of 65 require long-term care insurance for an average period of three years. People may get 80% of this long-term care at home. Besides home, the other places which fit the eligibility criteria are nursing homes, assisted living facilities, adult day care centers, and continuing care retirement communities.

However, you must remember that a long-term care insurance policy differs and depends from one individual to another since their grand scheme of retirement planning and the importance they give to the policy may be different. The state of health and where you live also determines the cost and time period for which the policy is required. It is a must to consider inflation protection while planning for the policy, which will then determine whether you should go for a traditional one or a hybrid-link benefit policy.

Traditional policies are generally ‘standalone’ and ‘pay-as-you-go’ ones in which premiums may be renewed for sure. They are affordable and are tailored as per the customer’s requirements. However, the advantage of hybrid ones is you need to pay the premium just once. Also, from the outset, customers may select the benefits such as the monthly amount and time period of the same. The policy may also be linked to extra insurance benefits such as an annuity or an already existing life insurance policy. It offers a money-back guarantee for sure, should a long-term care policy not be required anymore.

As a result, an individual must know and be confident of what it is that are they looking for while finding and comparing long-term care insurance online quotes. There are chances that different insurance policies describe the same benefit to be gained in a different manner, perhaps for marketing purposes. For example, the inflation protection option that Genworth Financial provides is called Guaranteed Purchase Option, which is also known as Benefit Builder by John Hancock.

Besides Genworth, the most reliable companies, when it comes to long-term care insurance quotes online, are Mutual of Omaha, Pacific Life, Lincoln Financial Group, One America, and Securian. There are websites that provide customers the knowledge as well as the options to compare quotes from different companies in different states free of cost. These websites also take into consideration your individual requirements so that the plans may be customized.