Baygroup Insurance

Maryland's premier Long-Term Care insurance agency

Long Term Care Insurance

How do I get a quote from Baygroup Insurance?

We can provide you with a quote for Long-Term Care insurance.  You fill out a quote request form and email it to us, or print it out and mail it to:

Baygroup Insurance

3815 Justin Road

Monkton, MD 21111

Please let us know the best time to contact you and how you would like to be contacted, by phone or by email.  Additionally, you can call us for a quote at (410) 557-7907. 

Are combination long term care insurance products medically underwritten?

Yes.  As with traditional long term care insurance (LTCi) products, combination LTCi products are medically underwritten.  This means that your health status will affect your rating for these products.  You will want to apply for a combination product at an age when you are in good health!

What is the cost of a long term care combination insurance product?

Many long term care combination insurance products require a single premium payment.  This means that you would pay the bulk sum at the beginning of your policy, rather than writing monthly or annual checks.  Combination long term care products can range in prince, anywhere from around $25,000 to over $200,000.

Who is a good candidate for a combination long term care insurance product?

Many of these combination products require a single premium payment, rather than many monthly payments or annual payments.  Some people purchase these products because there is a one-time payment and no chance of a future rate increase.  If you have a chunk of money that you are able to put toward a single premium payment you might consider a combination product, if you also need life insurance.  It would not be a good idea to purchase a combination product if you already have enough life insurance or if you do not have a need for it.

Why would I want a long term care and life insurance combination policy?

No matter what happens you will receive money from the policy.  The policy will either pay for long term care expenses, pay your estate or beneficiaries a death benefit, or you can have your premium payment refunded at any time.

Combination Long Term Care Policies

Combination Long Term Care insurance (LTCi) policies, also known as linked-benefits or hybrid policies, are quickly gaining popularity.  It combines or links long term care benefits with another type of insurance - life insurance plan or an annuity.  It provides a benefit pool to pay for qualified long term care expenses, but if care is not needed, the heirs receive the life insurance death benefit or the cash value from the annuity.

You Can Cover Long Term Care with 'Combo' Products

Terry Savage discusses asset-based Long Term Care insurance  in this article.  While supporting the need for long term care insurance, Savage acknowledges that the product may seem too pricey for some consumers.  This article discusses Combination long term care insurance/life insurance products in this article. These products are gaining popularity for many reasons. 

Melissa Barnickel Returns to WCBM AM 680 to Continue the Long-Term Care Insurance Discussion

Melissa Barnickel returns to the Senior Spotlight radio show with Sue Haviland to discuss Long-Term Care insurance. Listen to clips from the radio show!

Do I need long term care insurance if I have VA benefits?

It is a good idea to consider a long term Care insurance (LTCi) policy to supplement VA long term care benefits.   Qualification is based on level of service-related disability and financial aspects.

Is LTCi Worth It? Get Real

Do you think the premiums for LTCi are expensive? Read this article to get some perspective.

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