Results from the latest field poll conducted by the California Partnership for Long-Term Care are not surprising. Although more people are aware they will likely need long-term care benefits in the future, fewer are purchasing policies. See, “Californians Know They Need Long Term Care Coverage, But Don’t Buy It.”
According to the survey, state residents purchased 22,000 fewer policies in 2008 than they did in 2000. About 30 percent of the respondents expressed concerns that insurance companies would fail to honor their policies as their chief reason for not purchasing LTC insurance.
That’s a legitimate concern, as we well know.
Do your research and choose a reputable company offering the best policy you can afford. While the LTC component of President Obama’s healthcare overhaul (aka the CLASS Act) may offer some attractive alternatives for some, be aware that experts predict the launch will be delayed by as much as a year as the administration tries to create an inexpensive yet sound program.
If and when the time comes you have to fight for Long Term Care insurance benefits, call us to hold your insurer accountable.
For more information about obtaining LTC benefits after delays or denials, call 800-446-7529.