Compare prices. Obviously, shopping around is the best way to find cheap long-term care insurance in Tennessee. At first, when you're looking for an insurance company and policy, you're kind of fumbling around in the dark. But once you have a better idea of how much you can pay and what kind of care you want, you should limit your comparison shopping to only companies with high financial ratings that offer similar premiums, coverage, and benefits.
Don't use a quote for long-term care insurance in Tennessee to pay for everything. Still not sure? Yes, the point of long-term care insurance is to help pay for your medical bills and other health-related costs when you need care for a long time. But you can get a cheaper Tennessee long term care insurance rate if you buy coverage that takes care of most of the costs instead of all of them. If nursing homes near you cost $120 or $150 per day, buy enough long-term care insurance to cover $100 or $130 per day. Two important things to keep in mind: You should only do this if you think you or a family member will be able to pay for the difference, and you should always ask your insurance agent about getting an inflation protection provision.
Stick to a percentage of your monthly income for your Tennessee long-term care insurance rates. The National Association of Insurance Commissioners' Model Regulation for Long-Term Care Insurance says that you should get quotes for long-term care insurance in Tennessee that cost no more than 7% of your income. Don't use your current income to find cheap long-term care insurance in Tennessee. Instead, use your estimated retirement income. After all, you'll pay most of the premiums for your long-term care insurance with the money you make when you retire.
