How to Find Cheap Oklahoma Long Term Care Insurance Rates – Auto Care Insurance

While Oklahoma long term care insurance may not always come cheap, it is a bargain compared to the cost of paying for your long term care without it. The key to getting an affordable OK long term care insurance (LTCI) policy is to buy it early when premiums cost less and before health conditions develop.If you are looking for coverage later in life, there are still some things you can do to reduce your rates. You will want to consider them carefully and weigh the options against the security of full coverage. Hopefully these four points will help you find the balance that is right for you.1. Choose a longer elimination period. The elimination period is comparable to a deductible in auto insurance. The longer the elimination period or deductible, the less the insurance will cost. An elimination period can be anywhere between 0 and 100 days. However, this means you will have to pay the expenses for those first days of care. Consider how much of an elimination period you can afford as it can cut your premium cost significantly.2. Look for a lower daily benefit. The cost of private nursing home care averages about $150 per day. If you chose a benefit that pays just $100 per day, you could lower your premiums. If needed, you could make up the difference with social security, pension funds or savings.3. Consider contracting for a shorter period of coverage. The average nursing home stay is just over one year with only between 4 and 7 % of stays lasting longer than five years. Choosing a period between three to five years coverage instead of lifetime coverage. The savings can be considerable.4. Ask about joint policies. Again, like auto insurance, long term care insurance companies offer discounts for having more than one policy with the company. If you have to choose which spouse to insure, consider the fact that women statistically have a longer live expectancy than men.When comparing OK LTC companies, be sure to get quotes from at least three different companies and compare similar policies. Comparing policies and rates on line can save a significant amount of time and effort, and you can get started right now. The more quotes you compare then the more of a chance you have of finding the cheapest Oklahoma long term care insurance rates!