No. of Recommendations: 3
Well my take on this subject is a bit different. While nobody wants to pay too much for anything, people whose purchase decisions are dominated by price are often disappointed. We have been dealing with a single LTC company for over 20 years and had none of the horror stories Intercst and the media report. That company was originally GE Financial which was spun off and now is known as Genworth Financial.

In my experience the same situation exists with auto insurance. Over the years we have had two major claims -- uninsured motorists hit us. The GEICO folks made the repair like a root canal without Novocain. But when my wife's car was totaled, the State Farm people were straight up and gave us fair value. That is not to say I was perfectly pleased with State Farm, but they did not low ball everything and force the repair shop to jump through hoops to prove an obviously bend frame was bent.

That said, I guess Warren Buffet and the other Berkshire owners were happy with GEICO's approach.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.