LONG TERM CARE INSURANCE: IT’S NOT ALWAYS THERE FOR YOU!
I am starting to see long term care insurance being pushed everywhere. The insurance carriers play on everyone’s fear that one day we will be alone and without the ability to care for ourselves and how are we going to pay the ever rising costs for assisted living and nursing home care?
With the increasing number of these policies comes the inevitable refusal of the company to pay benefits just when the owner of the policy needs those benefits. Recently in California alone, one out of every four long-term insurance claims was denied. Read a sad story of denial involving Rose Derks in Montana.
I realize insurance companies are businesses. And, business is business, one might say. Maybe it is naive thinking, but an industry formed to provide all of us with some security in our lives should have a sense of honor in the way they do their business. Maybe they should honor their commitment to provide benefits to those in need.