Sure, long-term care insurance can safeguard your assets, but you still have to do your due diligence when it comes to choosing a policy. First, take a step back: familiarize yourself with the foundational features and options of a good long-term care insurance (LTCI) policy before making a final decision. Take the time to ensure that you get the policy that will best fit your particular needs.

The next step is to find the insurance carrier that will suit you best. Since there are many LTCI providers to choose from, here are a few suggestions for selecting a company that offers a quality product and is worthy of your trust in the many years ahead.

What the Media Won't Tell You
LTCI companies get a bad rap. There are lots of stories in the media about carriers whose reputations are being seriously challenged. It's been reported that some have appeared to excessively deny claims in order to make a profit. Others have had to request hefty premium increases due to a much higher number of claims than they had projected.

Want to know a secret? Among the companies that offer LTCI, there are a few that have an outstanding reputation. These companies have distinguished themselves over a long period of time as financially solid, rate-stable carriers with an excellent customer service record. While some of the negative stories you've read may hold water, the truth is that there are LTCI companies that really adhere to their claims of the customer being #1.

Which LTCI Companies Can You Trust?
The June 18, 2007 issue of Newsweek magazine recommended the following four major LTCI carriers as being worthy of your consideration: Genworth Financial, John Hancock, MetLife and Allianz Life.

Of course, that does not mean that there aren't other fine companies to choose from, but these four carriers identified by Newsweek are among the oldest and financially strongest in the industry. They also have extremely favorable records of customer satisfaction.

Before You Buy an LTCI Policy, Consider This
Genworth, John Hancock, MetLife and Allianz Life are all good choices if you are in excellent health. However, if you have health issues that are not serious enough to render you uninsurable, but will most likely disqualify you for "preferred" rates, the company you choose can have a significant impact on your premium.

Each company has its own underwriting procedures for rating policyholders. These procedures can vary greatly from one company to the next. For instance, one carrier might not issue a "preferred" rating to anyone who uses even a single blood pressure medication, while others might allow the use of up to four of these medications and still award the highest rate classification.

If you have more serious health conditions, the difference in the way individual carriers treat those issues can be even more dramatic. In other words, some health conditions that one carrier may accept may be cause for rejection by another provider.

Consulting a knowledgeable, experienced agent who can choose from several top companies in the LTCI field can be a real asset in helping you find a company that is trustworthy and reliable—and is a good fit with your needs and health history.