How Do You Know A Pro Is Ramseytrusted Material
In 20-plus years of building our network of providers, weve learned some things, like:
Its worth it to do the work on the front end to weed out the bozos and whittle your list down to only professionals you know you can trust.
Trust isnt something that just gets earned once and kept forever. Its earned and then maintained day in and day out.
From our local RamseyTrusted Providers, like our insurance and tax pros, to our national advertisers, like Zander Insurance and MamaBear Legal Forms, they all go through layers of safety nets.
Thorough Vetting
We wont sugarcoat it: We put our pros through the freaking wringer before they ever start their first day of work with us. Its not just one interview or phone call. Like the old canary in a coal mine, our leaders and coaches put their finely tuned radars to the test, and if things dont check outits a no. So when pros make it, you know theyve got chops. And you know they want to serve you.
Ongoing Coaching in Ramsey Teachings
Our coaches have regularly scheduled coaching sessions with our pros, helping them to keep pursuing that missional, heart-of-a-teacher, reliable mindset that RamseyTrusted stands for. And the group coaching sessions connect successful RamseyTrusted Providers so they can inspire each other and share whats working for them.
How We Save You Money
- We represent the country’s top independent auto insurers
- One central place to get multiple quotes to make sure you get the right coverage for the most competitive price
- Guidance to help you understand the different coverages that are suitable for your insurance needs and your budget
- Only with Zander, you get annual reviews of your policy to make sure your rates stay as low as possible
- Easy payment options, flexible down payments and personalized service
- With four generations and nearly 100 years of experience, we’ll be here to help you each step of the way
- Our partnership with Answer Financial allows you to compare and save online in all 50 states
Auto
How Does Washingtons Long
It all starts with paying a regular premium. Long-term care insurance is often purchased by adults in their 40s who have watched their parents go through assisted living or paying other excessive medical fees.
They, in turn, become inspired to start setting money aside for themselves to use later in life. Once you purchase a policy, youll pay a monthly premium for a long period of time towards an eventual benefit payout if and when you need it.
Benefits kick in once youre in need of long-term care. In other words, youll get your policys payout when you actually go into a nursing home or assisted living facility, or are diagnosed with an ailment that requires another form of long-term care such as continuous treatments and doctors visits.
Depending on your specific policy, you may receive a certain amount of your benefits daily, weekly, or monthly.
Long-term care insurance is very similar to a life insurance policy, with the difference being that youre the one who gets the benefit payout to use while youre still alive. Working with an experienced independent insurance agent is the best way to find a policy thats set up in a way that benefits you as much as possible.
Save on Long Term Care Insurance
Our independent agents shop around to find you the best coverage.
Also Check: What Does Level Refer To In Level Term Insurance
Washington Sample Long Term Care Premium Calculations
We did a few sample premium calculations so you get an idea of how much youd pay to purchase long term care insurance in Washington. These calculations assume that the policy holder selects an elimination duration of 90 days, daily maximum benefit of $200, and a benefit period of 3 years.
At Age 50
Single Male, Age 50, pays $1894 annually
Single Female, Age 50, will pay $2,277
Couple, each age 50, pays a combined $3,291 annually
At Age 55
Single Male, Age 55, pays $1,967 annually
Single Female, Age 55, will pay $2,381
Couple, each age 55, pays a combined $3,308 annually
At Age 60
Single Male, Age 60, pays $2,070 annually
Single Female, Age 60, will pay $2,963
Couple, each age 60, pays a combined $3,390 annually
At Age 65
Hybrid Life Insurance Policies

A hybrid policy combines life insurance with long-term care insurance. One type of hybrid policy features whole life insurance paired with long-term care coverage. Hybrid life insurance policies allow you to use LTC benefits as you get older while guaranteeing a death benefit for your beneficiaries when you pass away.
Recommended Reading: American Heritage Life Insurance Company
Where Ramseytrusted Began
The services that are all part of RamseyTrusted came from our conviction that when good, hardworking people need professional help with necessary life stuff, like investing for retirement, they should be able to get it. And they should be able to feel confident about itnot worried that theyre going to get scammed and hung out to dry.
But thats not the reality out in the business world, so folks are either spinning their wheels looking for recommendations, or theyre trying to do things on their ownthings they shouldnt be doing alone!
Trying to find professional help for all the things . . . its a time-sucking, hand-me-the-ibuprofen experiment in adulting. And thats the problem RamseyTrusted exists to help you solve.
Creating our will was so easy that I thought we did something wrong! We had been putting it off for the first year of our marriage because we were expecting it to take a large chunk of time. But we sat down one day just to get it started, and all of the sudden we were finished! Alex S., MamaBear Legal Forms user.
Long Term Care Annuity
A long-term care annuity is a deferred fixed annuity designed to help pay long-term care costs without destroying retirement savings and providing tax advantages. The LTC annuity doubles or triples the investment to generate a tax-free long-term care insurance benefit. LTC annuities also pass a death benefit onto beneficiaries if money is left in the annuity.
You May Like: State Farm Non Owner Insurance
Compare The Best Insurance Quotes In The Country
Compare quotes from the top insurance companies and save!
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features.His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C… |
Why Would I Need Washington Long
You would need it mainly to help pay for long-term medical costs once youve retired because Medicare wont pay for everything. But really there are tons of reasons that might inspire you to look into long-term care insurance. Heres a look at just a handful.
You might want to get a long-term care policy for one or more of the following reasons:
- You dont want to put a financial burden on your kids when youre older by asking for their help with your medical payments.
- You wont have enough money set aside in savings after retirement to cover your living expenses and increased medical costs.
- Youll be financially strained post-retirement, but not so much so that youll qualify for Medicaid.
In addition, the costs of nursing homes, assisted living facilities, and other long-term treatments can be staggering.
Here are just a few examples of average expenses for Washington seniors requiring long-term care:
- The national median cost of assisted living is $4,000/month, or $48,000/year.
- On average, a private room in a nursing home costs about $8,365/month, or $100,380/year.
- Home health aides typically charge $20.50/hour for their services. Seniors often spend $50,668/year on home health aides.
- The average daily cost of adult day health care centers is $68.
- The average cost of cancer treatment is around $150,000 in total.
- Additional treatment for Alzheimers disease can increase assisted living center costs by as much as $1,000/month.
Recommended Reading: Term Life Insurance Rates For Seniors
Nursing Home & Residential Care Facility Only
Nursing home and residential care facility-only insurance policies cover care in nursing homes or Residential Care Facilities for the Elderly that provides assisted living services. These policies’ benefits must cover the cost of all LTC services you obtain in the facility, not just room, and board up to the policy’s maximum daily benefit amount.
Assisted living benefits under this sort of insurance is payable while you are staying in any RCFE-licensed setting, including small neighborhood homes , retirement residences, and specialized community centers for Alzheimer’s patients. These policies also need to provide assisted living payments at least 70% of the nursing home care benefit.
Why You Need Long
Before we dig into the costs of long-term care insurance, lets look more closely at why you need it.
First, did you know that 65-year-olds today have a 70% chance of needing long-term care?3 Around 20% will need it for longer than five years.4 But only 7.5 million Americans have some form of long-term care insurance.5 So give yourself a pat on the back for even researching this. Youre already ahead of the curve.
Having a long-term care insurance policy will take away a ton of worry about your future. Itll also ease the burden off your loved ones. And youll have peace of mind knowing you wont go broke dipping into that nest egg youve worked so hard for. The last thing you want to do is pay for expensive care out-of-pocketdirectly out of your savings and retirement funds. And while you could sock away a bunch of money in something like a pretax Health Savings Account , this probably isnt the best idea since youre still using up your hard-earned savings.
Read Also: What Is An Insurance Declaration Page
Long Term Care Awareness
A recent study by Genworth found that 7 in 10 Americans have made no plans for long-term care and many were not even aware of this type of insurance and what it covers. The Department of Health and Human Services estimates that 2 out of 3 Americans aged 65 and above will need long-term care at some point. These statistics highlight the need to solve the problem of long term care as soon as possible. Many Americans, regardless of the State in which they live, are at risk of exhausting their savings and assets to pay for long term care should they become unable to take care of themselves in the future. Awareness of the need for Long Term Care Insurance remains low in Washington, as in the rest of the country. Whats more, Washington ranks third in the nation for home health care services yet awareness remains low.
Should You Get Long Term Care Insurance

Long-term care insurance policies help cover the costs associated with the care of individuals with chronic medical conditions, disabilities and disorder.
It’s likely that at some point in your life you will need assistance with your daily activities. In fact, LongTermCare.gov estimates that 70% of people over age 65 eventually will need long term care, whether in a home setting, a senior living community or a nursing home.
Long term care insurance differs from disability insurance in that it might help cover the costs of daily activities such as:
- Getting in and out of bed
- Using the toilet
It may help you preserve your financial resources. Just follow a few guidelines and keep these factors in mind if you’re thinking about purchasing coverage.
Don’t Miss: Long Term Care Insurance Definition
Service You Can Trust
Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims. In 2018, Bankers Life paid long-term care insurance claims to over 250,000 policyholders, totaling $541 million.
Bankers Life is accredited by the Better Business Bureau with an A rating as of April 2018, in addition to receiving an A rating by A.M. Best Company for our financial strength.
Does Ltci Have A Waiting Period
The same waiting periods apply to almost all participating insurance companies in the long-term health care industry. The duration may vary, but it is generally between 0 and 90 days. You will be responsible for any expenses during the waiting period, so pick a length that you believe you can afford to cover.
LONG-TERM CARE INSURANCE WHERE YOU LIVE
Long-term care insurance by state.
Long-Term Care Insurance allows you to know that you and your loved ones are financially protected as you age.
Regular health insurance, disability insurance, and Medicare are not designed to cover long-term care costs. Get Long-Term Care Insurance today – select your state to get started.
You May Like: Lloyd’s Of London Insurance
How To Get Long
So, now that youve learned about the costs of long-term care and long-term care insurance, maybe youre ready to start shopping rates or see if you qualify.
While you could do this on your own, we recommend using one of our independent and trusted insurance agents who are part of our Endorsed Local Providers program. Theyll shop for you so you can save time and get peace of mind knowing youre getting the right coverage at the best price.
About the author
Ramsey Solutions
Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.Learn More.
Washington Long Term Care Planning
Planning ahead for future long term care needs is a critical part of retirement planning. Many people have had first-hand experience with a loved one who needed long term care services. These experiences underscore the reality of the financial and emotional stress when a loved one needs long term care.
Long term care insurance can protect your retirement assets. Plus it gives you the peace of mind, knowing you can cover the cost of long term care if you need in the future. A long term care plan also protects your family from having to be caregivers. And it enables you to choose where youll receive any care needed in later years.
Well give you quotes and comparisons for the leading LTC insurance providers in Washington.
You May Like: Citizen Insurance Company Of America
Does Medicare Cover Long Term Care
Medicare is the federal health insurance program for people over 65 and for some younger people with disabilities. But Medicare does not pay for most long term care services. Specifically, Medicare does not pay for custodial care which makes up more than 90% of long term care. An example of custodial care is when someone needs help with walking, bathing, eating, dressing and using the toilet.
Custodial care is also what people need most when they have a physical impairment from a stroke. Or, due to cognitive impairment from dementia or Alzheimers disease.
How To Buy Long
You can buy insurance directly from a long-term care insurance agent or employer.
Don’t Miss: What Is Product Liability Insurance
What Is The Best Long
Many types of long-term care insurance policies are available, and the best policy for you will depend on your individual needs and circumstances.
One popular type of long-term care insurance is life insurance with a long-term care rider. This policy provides both life insurance coverage and long-term care benefits, making it a great option for people who want both types of protection.
Another option is a long-term care annuity, which can be used to help pay for long-term care costs. These policies typically have higher premiums than life insurance policies, but they also provide more flexibility in how the benefits can be used.
Regardless of which policy you choose, shop around and compare different options before making a decision.
When Should I Get A Long

Look at long term care insurance well before you need it. The longer you wait to purchase a plan, the higher your initial premium may be. Also, if you wait, you may have a health condition that could disqualify you from getting coverage. While there’s no right age to buy, the American Association for Long term Care Insurance estimates more than half of long term care policies are purchased by people ages 55 to 65. The rates of a long term care policy typically include:
- Your age and health: As you age, you typically have more health issues which might increase your premium.
- Gender: Women generally outlive men, increasing the chance of a long term care claim.
- Premiums typically are lower for married couples than single individuals.
- Amount of coverage: Additional coverage options, such as higher limits on the daily and lifetime benefits, cost-of-living adjustments to protect against inflation, shorter elimination periods, might increase the premium.
You May Like: Crm Software For Insurance Agents
Quick Answers To Common Questions
SHOULD I READ MORE ON THIS PAGE?YES, after reading the 4 criteria above.
WHY DOES MY SALARY MATTER? If you earn less that the amounts shown above, the new tax will cost you less than the minimal levels of long-term care insurance now required by insurers for Washington residents.
Who approved the new tax? Your state lawmakers created this program and the Governor signed it into law.
Isn’t there any way to avoid the new tax? YES. Buying long-term care insurance is a way to be exempt from the new tax. BUT THAT IS AN OPTION ONLY FOR CERTAIN PEOPLE and we share some insights below.
What will private long-term care insurance cost me? The cost can indeed be less than the tax. We give some examples below. Insurance costs are based on your age, your health and how much coverage you choose to buy.
When Do I need to decide? If you want the exemption we strongly recommend you apply BEFORE SEPTEMBER 1, 2021.It can take 60-to-90 days for an insurer to approve and issue your policy.
If you want to speak with a professional long-term care insurance specialist,call the Association at 818-597-3227. We will connect you with a Washington long-term care insurance specialist.
It will take between 20 and 40 minutes to complete the application for insurance with the agent.