No. of Recommendations: 5
DW and I both have it.

There are two reasons.

1. We are what I would call "tweeners", while we could probably afford long term care on our own, we have enough so that we would have to pay full price until we ran out of money -- not a pleasant thought for the survivior.

2. Through DW's employment we can get it through CalPERS. I trust them somewhat more than I woud trust most companies.

My dad had it, and needed to use it for just over a year at the end of his life. He had in-home care, and whatever company he had it through was very adept at trying to wiggle out of paying for anything, even if it was clearly covered by the policy. My stepmother spent upwards of 20 hours per week doing paperwork to get them to pay their part. Fortunately she was capable of doing this, but it could easily have worn down a different person.

This relectance to pay legitimate claims is something I have never seen discussed, or even mentioned as a drawback of long term care insurance. As much as I am usually against government interference, I think a lot more regulation, with stiff penalties for arbitrary denial of legitimate claims, is in order in this industry. They are taking advantage of frequently elderly, people in a time of emotional stress.
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