LTC Insurance Providers: American Republic

American Republic Insurance Company is solely owned by an intermediate holding company, that is solely owned by American Enterprise Mutual Holding Company (AEMHC). American Republic Insurance Company celebrated its 75th anniversary in 2004. The company has more than 600 home office associates and over 15,000 career sales representatives, managing general agents, and personal producing agents.

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American Republic Long Term Care Products

The type of coverage offered by American Republic varies from state to state. Some factors you need to think about before you talk to an agent are the amount and length of coverage, the elimination period (“deductible”), and whether you’ve chosen an inflation rider.

The average stay in a nursing facility is 2.5 years. You can cut costs by opting to limit coverage length but the younger you are the less you’ll pay. Compare both lifetime and limited coverage prices.

The elimination period is the length of time where you pick up the tab initially. A 90 day elimination period can substantially reduce your cost but remember that the average cost of a day in a private nursing home is about $150 per day. A 90 day stay can cost, on average, $13,500.

An inflation rider will increase the value of your benefits as inflation increases. Even a small increase in inflation can whittle away at your benefits over 20 or more years. Benefits on most long term care policies are triggered by the ability to perform activities of daily living. Some policies will also have benefits based pass certain mental function tests. Check if the policy you are considering has coverage for mental or cognitive impairment. Also check if the policy requires hospital stay before benefits start.

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American Republic Credit Ratings

A.M. Best: A-

Long-Term-Care.org is not a long term care insurance broker or carrier, and we cannot issue insurance policies. This site provides free information on insurance providers and coverage options. We are not associated with the company or companies profiled on this page, and we make no representation, express or implied, that you will receive a quote from the specific company profiled herein. Products and policies may not be available in all states, and product and policy information is subject to change without notice. Please direct all insurance questions to your insurance company or broker.