LTC Insurance Providers: State Farm Insurance
State Farm has developed a comprehensive LTC policy to support its policy members in a wide range of environments, with plan features designed to meet every budget and coverage need. State Farm offers coverage for individuals receiving care in their homes, in the community, and in a nursing facility. Their policies offer benefits for custodial as well as skilled care, and include informal caregiver training, home communication outfitting, and respite care.
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State Farm Long Term Care Products
State Farm's LTC policy offers a variety of options to place individuals in complete control over their care. Individuals determine their own level of coverage, customizing the LTC base to set their own benefit payout and monthly premium through three primary variables.
Maximum Daily Benefit determines the maximum amount your policy will reimburse for a single day of qualified Long-Term Care services. There are no set parameters to determine this amount; it is at your full discretion between $75 and $400 per day.
Benefit Factor defines the length of time your benefits will be active, in other words how long you will be able to receive benefits. Time period options include 2, 3, 5, and 10 years, or Unlimited Lifetime benefits.
Maximum Lifetime Benefit refers to the full benefit amount your policy will put forth during the course of your care. Although this is not a uniquely defined figure on its own, it can be easily calculated by multiplying your selected Maximum Daily Benefit by your chosen Benefit Factor.
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State Farm Credit Ratings
Standard & Poor's: AAA
Moody's: Aaa
A.M. Best: A++
Fitch: AAA
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.
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