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URL:  http://boards.fool.com/without-telling-us-he-cancelled-his-long-term-29922483.aspx

Subject:  Re: What I hate the most Date:  3/20/2012  10:45 AM
Author:  vkg Number:  115568 of 121572

Without telling us, he cancelled his long term health care insurance, after having already paid close to $80,000 in premiums.

This seems to be a common problem. There seems to be some denial that they would ever need a long term care policy and cancelling is a short term answer to budget problems.

The other way that long term care insurance companies "win" is that elderly just forget to pay the premium.

My father was going to cancel his medical insurance because he didn't want any further care. There was a cheap Medicare supplement that he did accept and it required autopay. The autopay is probably the only reason insurance was in place when he was hospitalized.
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