Switching careshield life supplement providers

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Hi anon,

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Aviva's MyLongTermCare Plus has a 20% perpetual discount so that should not be a reason to switch to GE's revamped plan.

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The question now is: Are you willing and able to pay $40/yr more for the additional 1 ADL coverage? Also, bear in mind the statistical possibility of exactly 1 ADL happening, because if you were diagnosed with 2 or more ADL then you would have been better off with your current arrangement.

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Just because a plan is the only plan in the market to have a certain feature, does not make it a plan that you should buy. It's pointless if you deem that the feature is not of importance or relevance to you. Or; you could be paying much more premiums for that one feature which you might or might not claim on, would the marginal cost be worth it for you? Spend some time asking yourself this.

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Take note that any switching of plans will always lead to a higher premium for the same amount of coverage, and any benefits you may have accumulated would have been lost. Furthermore, any change in health may lead to difficulties to get the coverage on the same terms. Even if you should decide to switch, keep that in mind.