Top Long Term Care Insurance Companies
We work with the top Long Term Care insurance companies ensuring our ability to provide you with coverage to match your needs. The reputation and ratings of an insurance company is important when choosing a Long Term Care insurance policy. Before you buy a policy make sure to get a Long-Term-Care-Shoppers-Guide-request-form Top companies we work with include:
Traditional Insurance
Genworth Genworth TLC
John Hancock
Life Secure ( BC/BS Michigan)
Linked Policies
Mass Mutual
Med America
Met Life
Money Guard
Mutual of Omaha
One America
Prudential
United of Omaha
Top Long Term Care Insurance Companies' Ratings
The rating of an insurance company is important with any insurance product you may be considering purchasing. This is especially true for Long Term Care Insurance. There are two main reasons for this. First, Long Term Care insurance is still a relatively new product, you want to know that your company has properly priced your policy, and is not likely to have major rate increases in the future. Second, a Long Term Care insurance claim is very complex, with a lot of “moving parts”. When you make a Long Term Care claim, you will need to coordinate many details, including who is giving the care, where you will be staying, and how soon your policy will be able to pay. It is important to do this planning with the insurance company directly, ensuring that all forms of care are approved and will be paid. Having a reliable, experienced company at your side will make the transition into care much easier for the family. Health Care Benefit Services Inc will also be an advocate for you and your family during the transition into care.
Below is a list of the Top Long Term Care insurance companies and their ratings. We use all the top companies to bring you the most options for an affordable premium
Genworth Life Ins Co
Genworth Financial helps millions of people around the world achieve their dreams
| A.M. Best Company: | A (Excellent) |
| Moody’s Investors Service: | A1 (Good) |
| Standard & Poor’s: | AA- (Very Strong) |
John Hancock Life Ins Co
LTC insurance coverage you can count on, from a name that people know and trust
| A.M. Best Company: | A+ (Superior) |
| Moody’s Investors Service: | Aa3 (Excellent) |
| Standard & Poor’s: | AA+ (Very Strong) |
LifeSecure Insurance Co
LifeSecure, a wholly-owned subsid. of Blue Cross Blue Shield of Michigan, makes LTC un-complicated
| A.M. Best Company: | A- (Excellent) |
| Moody’s Investors Service: | NA (Not Applicable) |
| Standard & Poor’s: | NA (Not Applicable) |
MedAmerica Insurance Co
MedAmerica’s Simplicity cash long-term care insurance is the highest independently-rated policy available
| A.M. Best Company: | B++ (Very Good) |
| Moody’s Investors Service: | NA (Not Applicable) |
| Standard & Poor’s: | A- (Stable) |
Mutual of Omaha Ins Co
A strong, stable, secure company meeting the financial needs of its customers for the past 100 years
| A.M. Best Company: | A+ (Superior) |
| Moody’s Investors Service: | As3 (Excellent) |
| Standard & Poor’s: | Aa- (Very Strong) |
Transamerica Life Ins Co
Transamerica Life offers its LTCi products through individual, worksite, association and union sales
| A.M. Best Company: | A (Excellent) |
| Moody’s Investors Service: | A1 (Good) |
| Standard & Poor’s: | AA- (Excellent) |
What the Ratings Mean
The A.M. Best Company:
A.M. Best is one of the better known of the insurance rating companies. Here is an overview of what the A.M. Best rating system means.
| A++ and A+ (Superior): | The company has demonstrated superior overall performance and has a very strong ability to meet its obligations to policyholders over a long period of time. |
| A and A- (Excellent): | The company has demonstrated excellent overall performance and has a strong ability to meet its obligations to policyholders over a long period of time. |
| B++ and B+ (Very Good): | The company has demonstrated very good overall performance and has a good ability to meet its obligations to policyholders over a long period of time. |
| B and B- (Adequate): | The company has an adequate overall performance and can meet its obligations to policyholders but may be vulnerable to unfavorable changes in underwriting or economic conditions. |
| C++ and C+ (Fair): | The company has demonstrated fair overall performance and can meet its current obligations to policyholders but is vulnerable to unfavorable changes in underwriting or economic conditions. |
| BC and C- (Marginal): | The company has demonstrated marginal overall performance. It can meet its current obligations to policyholders but is very vulnerable to unfavorable changes in underwriting or economic conditions. |
| D (Very Vulnerable): | The company has demonstrated poor overall performance. The company can meet its obligations to policyholders but is extremely vulnerable to unfavorable changes in underwriting or economic conditions. |
| E (Under State Supervision): | The company is under state insurance regulatory authority supervision, control or restraint, such as conservatorship or rehabilitation, but not including liquidation. |
| F (In Liquidation): | The company has been placed under an order of liquidation by a court of law, or its owners have voluntarily agreed to liquidate. Companies that voluntarily liquidate or dissolve their charters are generally not insolvent. |
Standard and Poor’s:
Standard and Poor’s rates the claims-paying ability of over 300 insurance organizations worldwide. Here is an overview of what the Standard and Poor’s rating system means.
| AAA (Superior): | Superior financial security on an absolute and relative basis. Capacity to meet policyholder obligations is overwhelming under a variety of economic and underwriting conditions. |
| AA (Excellent): | Excellent financial security. Capacity to meet policyholder obligations is strongunder a variety of economic and underwriting conditions. |
| A (Good): | Good financial security but capacity to meet policyholder obligations is somewhat susectible to adverse economic and underwriting conditions. |
| BBB (Adequate): | Adequate financial security, but capacity to meet policyholder obligations is susceptible to adverse economic and underwriting conditions. |
| BB (Adequate): | Financial security may be adequate, but capacity to meet policyholder obligations , particularly with respect to long-term or “long-tail” policies, is vulnerable to adverse economic and underwriting conditions. |
| B (Vulnerable): | Vulnerable financial security. Currently able to meet policyholder obligations, but capacity to meet policyholder obligations is particularly vulnerable to adverse economic and underwriting conditions. |
| CCC (Extremely Vulnerable): | Extremely vulnerable financial security. Continued capacity to meet policyholder obligations is highly questionable unless favorable economic and underwriting conditions prevail. |
| NR (Not Rated): |
Moody’s:
Moody’s ratings rates the financial strength of investment vehicles and institutions including insurance companies. Here is an overview of what the Moody’s rating system means. 1, 2 or 3 modifiers for each rating category. A 1 indicates that the insurance company ranks in the higher end of its rating category. The modifier 3 indicates that the company ranks in the lower end of its category.
| AAA (Exceptional): | Exceptional financial security. While the financial strength of these companies is likely to change, such changes as can be visualized are most unlikely to impair their fundamentally strong position. |
| AA (Excellent): | Excellent financial security, together with Aaa group, they constitute what are generally known as high-grade companies. They are rated lower than Aaa companies because their long-term risks appear somewhat larger. |
| A (Good): | Goodfinancial security. However, elements may be present that suggest a susecptibility to impairment sometime in their future. |
| BAA (Adequate): | Adequate financial security. However, certain protective elements may be lacking or may be characteristically unreliable over any great length of time. |
| BA (Questionable): | Questionable financial security. Often the ability of these companies to meet policyholder obligations may be very moderate and thereby not well safeguarded in the future. |
| B (Poor): | Poor financial security. Assurance of punctual payment of policyholder obligatiions over a long period of time is small. |
| CAA (Very Poor): | Very poor financial security. Company may be in default on their policyholder obligations or there may be present elements of danger with respect to punctual payment of policyholder obligations – claims. |
| CA (Extremely Poor): | Extremely poor financial security. Such companies are often in default on their policyholder obligations. |
| C (Lowest Rated Class): | The lowest rated class of insurance company. can be regarded as having extremely poor prospects of ever offering financial security. |