Denial of Coverage>>Longterm Care Ins!!!!

[fordy]

.................For those Considering Longterm care ins......OR......those Possessing a current Policy , read the current NY Times article about....denial of coverage !! This is nothing but out right theft by these companies , read it and Weep ! fordy...

http://www.nytimes.com:80/2007/03/26...ml/?th&ernc=tl

[Danaus29]

Do you have a link??? Is this the longterm care coverage for nursing homes or longterm health ins????

[Beeman]

WOW! Amazing stories and I'm sure only the beginning as this insurance is the answer society keeps buying into this. It's a scary world and getting scarier.

[Selena]

All I had to see was Conseco and I really didn't need to read any more. This is why checking out the financial health of an insurance company, be it auto, health, life or other, is very important. Conseco didn't even own Bankers in 1990, and if the insured or her family had checked out Bankers, they'd have found the parent company was losing money then (small group insurance was the biggest problem but all health lines were losing money). Conseco was a flying high company in the mid-90s, buying companies and living the good life. Warp to current times and the former CEO lost his appeal, US Supreme Court refused to take the case.
Sadly, a lot of folks who purchase LTC (and other insurance), don't know what they are buying. NEVER trust what the agent says, he may be flat out lying or not understand either. I'm not sure getting clarification in writing helps given some court decisions. Most LTC are very restrictive as to what constitutes a legitimate request for coverage. All I can say is at least the Conseco insured has family to help her, those who have no one are really up a crick.

[Wolf mom]

Well at least the article did the homework for us and for those who want LTC insurance, Glenworth Financial is the way to go.

[Selena]

And for those interested, Genworth Financial is part of GE (they spun off their financial services to a subsidiary).

[ldc]

I read the article yesterday in the paper and tho't UNUM ranked with Gen. Financial? ldc

[Wayne02]

Some how this doesn't surprise me. Anytime you buy "insurance" 20 years before you "might" need it, it will likely be a crap shoot to some degree.

Even with the most "iron clad" policy there is just no guarantee that they will honor it as such, much less even still be in business in 20 years.

[Paul Wheaton]

I read something a couple of years ago that said that if you took out insurance and lawyers from the medical industry, the amount any of us would pay for health care would be less than the copay.