Northwestern Mutual is Investopedi💖a’s top choice for long-term care insurance. It offers a monthly maximum benefit of $12,000, second only to Thrivent among companies we reviewed. A high benefit amount is helpful for covering bills if you need comprehensive care. 

When you need to access benefits, Northwestern offers the convenience of online claim filing. The company receives very few 澳洲幸运5官方开奖结果体彩网:customer complaints and is financially strong, so it’s more likely to be able to pay out claims in the future.ꦑ 

However, the company increased rates oܫn some long-term care policies sold before early 2013. Many long-term care insurance companies have done so in recent years to ma꧙ke sure they can pay future claims as insurers previously charged too little in premiums to cover what they were paying out for these policies. 

The industry has since adjusted. The American Association of Long–Term Care Insurance published a study that showed under new regulations, policies sold today are unlikely to face future rate increases. Northwestern Mutual has maintained the highest possible finan𓃲cial strength ratings.

Northwestern’s standalone long-term care insurance policy is called QuietCare, and it includes coverage options such as 澳洲幸运5官方开奖结果体彩网:inflation protection, survivorship benefits for couples, and paid-up nonforfeiture benefits, which allow you to retain somꦿe level of coveraౠge if you stop paying premiums. However, there is a six-week elimination period before you can access benefits.

In 2022, the company launched a hybrid 澳洲幸运5官方开奖结果体彩网:life insurance policy called Long-Term Advantage, which pays a life insurance benefit if you don’t need long-term c🔥are.

Northwest♌ern Mutual was founded in 1857 and is based in Milwa⛎ukee.

Thrivent could be a good alternative for long-term care insurance. It’s 澳洲幸运5官方开奖结果体彩网:financially strong, so it’s likely to meet its long-term obligations to policyholders. Long-term care insurance is designed to provide benefits many years into the future, so an insurer’s financial outlook is important.

A low rate of customer complaints suggests Thrivent has effective customer service and claims-handling 𓆉processes. Customer service is especially key for long-term care i♔nsurance because claims can be complex and emotionally charged. 

Thrivent boasts the highest maximum monthly benefit amount in Investopedia’s study ($15,000), and an 8-year maximum benefit period, the second-longest in our review. You can access significant financial support to cover potentially high long-term care costs over an extended period. Since the average length of long-term care is 3.6 years for women and 2.5 years for men, Thrivent’s extended window could provide coverage even for someone who needs care well beyond what’s typical.

Thrivent’s long-term care insurance policy includes a benefit that provides a licensed health care coordinator to assist in developing💞 a formal care plan, help identify local care providers and resources, and monitor ongoing care needs. A Shared Care ꦉBenefit Rider allows couples to share their benefits. For example, if you exhaust all benefits in your policy, you can access your partner’s.

However, Thrivent has some limitations. Applicants must be Christian or married to a Christian, which limits accessibility for many people. And Thrivent doesnꦑ’t offer online claims filing, which may make the process less convenient.

Thrivent was foun𒈔ded in 1902 and is based in Minneapolis.

Mutual of Omaha offers t🧜wo long-term policy options, MutualCare Secure and MutualCare Custom. MutualCare Custom allows you to t꧅ailor coverage to meet your needs with customizable policy limits, benefits, and waiting periods.

Mutual of Omaha even has the option for no waiting period. This enables you to access benefits as soon as you qualify from a future illness or injury. Note that you must be healthy enough when you apply to pass medical 澳洲幸运5官方开奖结果体彩网:underwriting. Someone who already needs long-term care at the time of application ౠlikely will be denied coverage. 

Both policies include th🤡e option for a cash benefit, which provides part of the monthly benefit in advance, with no elimination period, for any expenses related to your long-term care needs. Mutual of Omaha receives few customer complaints, indicating customers are generally satisfied with the service. 

However, Mutual of Omahaꦜ doesn’t offer online claims filing, which may be inconvenient. 

Mutual of Omaha was founded in 1909 and is headquartered in Omaha, Nebraska.

National Guardian’s long-term care insurance policy, EssentialLTC, can include an optional rider that extends the initial three-year 澳洲幸运5官方开奖结果体彩网:benefit period to four, five, or six years, or a lifetime. National Guardian is the only company in our study to of💟fer a lifetime benefit option. A lifetime benefit can provide peace of mind that you’ll still be covered for an extended ongoing issue, such as Alzheimer's, which can exhaust benefits in other policies. You can also choose an elimination period of zero days in some areas, so the policy starts paying as soon as you get sick or injured.

EssentialLTC includes flexible premium payment options. You can pay over 10 years, all at once, or over the life of the policy, allowing you to choose a payment plan that aligns with your finan𝔉cial goals. 

꧑ National Guardian receives few customer complaints for a company of its size. This i💦ndicates that customers are generally satisfied with the service and handling of their policies and claims.

There are some potential drawbacks. National Guardian does not꧋ offer online claims filing, which might make the process less convenient. 

The $9,000 maximum monthly benefit isn’t as high as those provided by Thrivent or Noꦛrthwestern Mutual, so it might not be enough to cover the total costs of care in some areas.  The national average cost for a private room in a nursing home is more than $9,500 a month.

National Guardian Life Insurance Company was founded in 1909 and is based in Madison, Wisconsin.