Timing & LTCi
Okay, I’m all ears.
Turns out, she had been trained (??) to advise her clients to put off filing a claim for as long as possible, on the theory that using their own funds would allow the insurance dollars to last longer.
I nodded and said “well, that’s interesting,” and we went our separate ways.
It was not, in fact, “interesting,” it was stupid.
Whoa there, Henry them’s sharp words. Care to ‘splain’ yourself?
Sure.
Last Fall, my mother-in-law was in a pretty nasty car wreck, and ended up in a very nice Assisted Living facility. She had long ago bought a Long Term Care insurance policy through an affiliate program that her husband’s employer offered. Since she had multiple physical issues as a result of the accident, she qualified for benefits under the policy, and they began rolling in a few months later.
Unfortunately, she passed away recently, which is what prompted this post.
The most important aspect of the claims issue is that we don’t know how long that person will live, and had we listened to my colleague’s advice, we may well gave left significant “money on the table.” Here’s why:
She needed help with activities of daily living, and part of the claims process is an evaluation by a company representative (usually a nurse of service that they contract with) to make that assessment. If we had waited, there would have been no way for that evaluation to have taken place, and the claims process would have been very messy (or jut straight-out declined). There was absolutely no upside to waiting, but significant potential (more likely, probable) downside.
Alternatively, had she been cleared for claims up-front and we had simply waited before filing the claim (which is another way to have interpreted my colleague’s idea), we would not have been reimbursed until later. Yes, we would likely have still received the funds (this was a reimbursement-type plan) but why would we have given up the interest (this was a fairly decent amount)? After all, money is fungible, and using the carrier’s funds instead of Mom’s meant her money was able to keep earning interest.
Take heed.
Source: http://insureblog.blogspot.com/2020/07/timing-ltci.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,608,223,422 |
| Stories: | 8,163,964 |
Whistler Blowers, Insiders
