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For those interested, Saturday also offers a free phone consultation with a long-term care expert to review the assessment results, answer any additional questions or request additional long-term care insurance quotes. Upon completion of the Assessment, users can email results to themselves and access additional long-term care resources to continue their research. More importantly, users who complete the LTC Assessment can get a personalized estimate of how much long-term care insurance would cost for them. Through the Saturday LTC Assessment, visitors can also learn about how long-term care insurance works and the differences between the two main products in the market today – Traditional and Hybrid long-term care insurance. “Nobody goes through life thinking about what long-term care is or why you might need it, so when someone does reach a point where it becomes important, they’re starting from scratch.” “One of the most challenging aspects of long-term care is that everything is new to most people,” said Ho. Throughout the assessment, important topics and key terms are explained in simple, transparent language that the average person can understand. Care costs are based on the 2019 Lincoln Financial Cost of Care Survey, which provides detailed costs for a range of care options across all 50 states. The assessment asks basic information such as person’s age, gender, marital status, and state of residence and then presents long-term care costs in their area and an assessment of how much lifetime care costs they might incur. How does long-term care insurance work and how much does it cost? The Saturday Long-Term Care Insurance Assessment takes each person through the following topics: By answering the burning questions consumers have about long-term care and making insurance pricing transparent, we hope to help consumers jumpstart their research and get them on a path to financial security.” said Ho.
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“The majority of Americans researching long-term care have questions about the cost of care, how to pay for it and whether insurance covers such costs. “A recent Federal study reported that more than half of all retirees will need long-term care at some point and costs can climb to more than $100,000 per year,” said Dennis Ho, CEO and Co-Founder of Saturday Insurance. MAHWAH, N.J.-( BUSINESS WIRE)- Saturday Insurance (Saturday), an online independent insurance agency, has created a first-of-its-kind Long-Term Care Insurance Assessment tool to help families better understand the costs of long-term care, learn how insurance works and assess the potential cost of coverage.