TORONTO, June 20, 2017 /CNW/ - Thanks to medical advances and healthier lifestyles, the average life expectancy in Canada has grown from 58 years in the 1920s to over 80 today. As life expectancy increases, so too does the risk of suffering an illness or injury requiring long-term care.
Currently, 4-in-10 Canadians over 65 will need long-term care. If that care is provided in a facility, it could cost $30,000 to $65,000 per year. If it's provided at home, it could cost even more. The financial consequences of either could be devastating.
A sensible solution is privately owned long-term care insurance. However, choosing the right policy can be challenging and time consuming as each plan offers different benefits, features and pricing.
Today consumers nationwide can get all the information they need to make an informed purchase decision with a new, one-stop comparison service called Canadian LTCi (www.canadianltci.ca). Canadian LTCi operates a free online database that compares the features and pricing of top long term care insurance policies from leading carriers. It's the first service of its kind in Canada.
"Canadian LTCi monitors only insurers who hold high ratings from the most respected rating agencies such as Standard & Poor's, Moody's and Fitch," said Fred Wing, Chief Operating Officer. "Plus, our analysis focuses on important policy features such as benefit triggers, benefit payments and inflation protection."
"Don't buy long-term care coverage based on price alone," warns Alex Stojanoff, VP Sales & Marketing. "You need to be comfortable with the financial stability and experience of the insurer, the benefits offered and the policy language."
Based on each individual's age, gender, marital status and province, the Canadian LTCi website automatically compiles a detailed comparison of top policies. Consumers receive a review of each carrier's financial strength, a side-by-side analysis of each policy's provisions and personalized premium estimates.
If questions arise, a simple call to Canadian LTCi (888-959-0717) puts Canadians in touch with licensed professionals who have specialized training in this market.
"Best of all," Wing said, "we're not tied to a specific insurance company or policy. This independence gives us the freedom to search out and select the absolute best value for each consumer."
For complimentary policy comparisons and price estimates on long-term care insurance visit www.canadianltci.ca.
SOURCE National Best Financial Network
For further information: Fred Wing, Chief Operating Officer, (403) 200-2444; Alex Stojanoff, VP Sales & Marketing, (416) 200-4026