Genworth LTC strikes again

[Banned LTC Salesman]

Why should it ever be a surprise that insurance companies (any type of insurance) will try to weasel out of paying claims? It's the very nature of their business model - collect as much in premiums as possible and pay as little in claims as possible. If they can make the claim process difficult, confusing and slow, at least some people will give up.

That's why I didn't file my MIL's claim myself.
We had the home care agency file the claim.
They know the ins and outs of each insurance companies claims process. And the home care agency has the financial incentive to get the claim approved. It's a no-brainer.

 

[MichaelB]

The basis is common sense investing.

If you had one million dollars of invest-able assets, would you choose a risky investment that could lose most of your principal. Or, would you choose a safer investment that could lose little or none of your principal?

If the risky investment only earned you an additional 50 basis points (e.g. one-half of one percent), why would you take that risk?

Long-term care insurance is portfolio insurance.

That's a sales pitch. You compare only the downside of one option with only the upside of another.

The reason to buy LTC insurance is because it is needed and the policyholder cannot afford to self-insure.

 

[braumeister]

The basis is common sense investing.

If you had one million dollars of invest-able assets, would you choose a risky investment that could lose most of your principal. Or, would you choose a safer investment that could lose little or none of your principal?

But you're not talking about investing. You're talking about an insurance product. This is the same argument used by annuity peddlers, and they get short shrift here.

Long-term care insurance is portfolio insurance.

Not by a long shot.

 

[MichaelB]

Despite multiple requests, both private and public, to keep the thread centered on providing information about LTC insurance, the discussion continually shifted (or was nudged) to sales pitches and even touched on specific policies. This continued even after some posts were removed. The thread is now closed because it is clear the objective here was lead generation, not education.

E-R Forum rules do not allow promotion of commercial products or websites. Our user base is not an unlimited resource to be "mined" by individuals, groups, or businesses, for profit or not for profit.