Comments on: What do you mean my insurance won’t pay????

By: Hinerman

Hinerman — Thu, 29 Mar 2007 12:07:33 +0000

Point well taken. The article doesn’t state that the long term care insurance industry has failed. Neither did my comments on the article.

My comment simply suggested that long term care problems, not unlike health insurance problems and not unlike the scandalous sales of non guaranteed universal life policies in the past, are issues that the public should be aware of. They shoudl be warned to do their homework before purchasing.

Thanks for your comments.

By: Term Life Insurance » Term Life Insurance March 28, 2007 9:04 pm

Term Life Insurance » Term Life Insurance March 28, 2007 9:04 pm — Thu, 29 Mar 2007 01:30:56 +0000

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By: W. Wright

W. Wright — Thu, 29 Mar 2007 00:11:38 +0000

The NY Times article highlights two insurers that have had a large portion of the complaints in the industry. According to the Times, these two insurers have 30 times as many complaints (proportionately) as some of the leading long term care insurers.

The message of the article is NOT that the long term care insurance industry has failed. The long term care insurance industry, as a whole, has paid, and continues to pay, billions of dollars in long term care claims.

Nothing sells more newspapers than a story about mean-old-nasty-insurance-companies. If 1,000 long term care insurance claims are paid, the newspapers will print the story about the 1 claim that was denied. That’s the nature of the print media. It’s been that way since Gutenberg.

Here’s an interesting reply to this article that should be of interest to most:

http://www.ltcinsuranceshopper.com/