We are often asked what the best long term care insurance companies are. When choosing the long term care insurance companies we recommend we take several factors into consideration including:
- Ratings
- Underwriting
- Claims performance
- Years selling long term care insurance (LTCI)
Insurance companies are evaluated by several agencies, each with their own rating scale. A strong rating indicates financial strength, which in turn indicates an ability to pay claims.
The Comdex rating is interesting to consider as it is a composite of the four major services, which is then converted into a score that ranges from 1 to 100, with 100 being the highest.
The insurance companies we recommend in alphabetical order.
Genworth.
- A.M. Best: A
- Standard and Poor’s: A-
- Moody’s: A3
- Fitch: A-
- Comdex: 73
John Hancock Life Insurance Company.
- A.M. Best: A+
- Standard and Poor’s: AA-
- Moody’s: A1
- Fitch: AA-
- Comdex: 93
Lincoln National Life Insurance Co.
- A.M. Best: A+
- Standard and Poor’s: AA-
- Moody’s: A1
- Fitch: A+
- Comdex: 91
Massachusettes Mutual Life Ins.
- A.M. Best: A++
- Standard and Poor’s: AA+
- Moody’s: Aa2
- Fitch: AA+
- Comdex: 98
MedAmerica Insurance Co.
- A.M. Best: B++
- Standard and Poor’s: A-
- Moody’s: NR
- Fitch: NR
- Comdex: 46
Mutual of Omaha Insurance Co.
- A.M. Best: A+
- Standard and Poor’s: A+
- Moody’s: A1
- Fitch: NR
- Comdex: 90
Northwestern Mutual Life Ins.
- A.M. Best: A++
- Standard and Poor’s: AA+
- Moody’s: Aaa
- Fitch: AAA
- Comdex: 100
Transamerica Life Insurance Co.
- A.M. Best: A+
- Standard and Poor’s: AA-
- Moody’s: NR
- Fitch: AA-
- Comdex: 95
Sources:
http://www.ltcconnects.com/blog/updated-rating-the-best-long-term-care-insurance-companies
To get free insurance quotes on different insurance companies, check out:
http://www.completelongtermcare.com/quote.aspx
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