Best Long Term Care Insurance Companies

Best Long Term Care Insurance Companies

Long term care insurance is one of the best ways to protect your retirement income and quality of life as you age. And with health care costs steadily increasing, more and more people are ready to take action and develop their long term care plans.

If you are considering long term care insurance, typically your first steps are to identify your needs then understand the best long term care insurance companies you have to choose from. Below we’ve outlined a number of leading long term care insurance companies to help you as you establish your long term care plan.

Genworth Financial

Founded in 1871 as The Life Insurance Company of Virginia, Genworth was formed out of the various insurance businesses of General Electric in 2004. The company is headquartered in Virginia and helped pioneer long term care insurance in 1974. Today, Genworth services one in every four Americans with an individual long term care policy; they offer traditional LTC policies as well as hybrid life and universal Life.

• LTC Insurance Products: Privileged Choice Flex 3, Element
• Company Assets: $106.4 billion (2016)

Nationwide Insurance

Founded in 1926 as Farm Bureau Mutual Automobile Insurance Company, Nationwide Insurance is headquartered in Columbus, Ohio.

• LTC Insurance Products: CareMatters
• Company Assets: $209.8 billion (2016)

Transamerica

Founded in 1928, Transamerica is headquartered in Baltimore, Maryland. The company entered the long term care market in 1990.

• LTC Insurance Products: TransCare 3
• Company Assets: $126 billion (2016)

Lincoln Financial Group

Founded in 1905, Lincoln Financial Group is headquartered in Radnor, Pennsylvania. The company introduced MoneyGuard, it’s first long term care insurance product, in 1987 and continues to be a leader in the LTC industry. Lincoln Financial offers asset-based long term care insurance plans which are generally hybrid universal policies.

• LTC Insurance Products: MoneyGuard II, MoneyGuard Reserve (NY only)
• Company Assets: $262 billion (2016)

OneAmerica

Founded in 1877, OneAmerica is headquartered in Indianapolis, Indiana. OneAmerica is a mutual holding company that entered the long term care insurance market in 2005 with its purchase of Golden Rule Financial Corp.

• LTC Insurance Products: Asset Care, Annuity Care, Legacy Care, Immediate Care
• Company Assets: $74.1 billion (2016)

Mutual of Omaha

Founded in 1909, Mutual of Omaha is headquartered in Omaha Nebraska. The company entered the long term care insurance market in 1987 and is one of only a handful of mutual insurers in the space.

• LTC Insurance Products: MutualCare Custom Solution, MutualCare Secure Solution
• Company Assets: $38.5 billion (2016)

Ready for a Long Term Care Plan? We can help.

Now that you know the leading long term care insurance companies, you may have some additional questions about policies and how to craft a custom solution to fit your needs. Schneider & Shulman Associates is eager to help – please contact us today to speak with one of our expert long term care insurance brokers!