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Tuesday, September 2, 2014

Rating The Best Long Term Care Insurance Companies


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.

 comdex-ratings-best-long-term-care-insurance-companiesGenworth.

  • 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