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Re: Insurance Rider

Posted by scottaolson on March 22, 19101 at 21:51:50:

In Reply to: Re: Insurance Rider posted by Rachel on March 22, 19101 at 18:31:09:

Mr. Allen,

EVERY long term care insurance policy contains language regarding an "appeals" process. That language in the policy is not intended to harm the policyholder. It is there for the protection of the policyholder.

The purpose of that language is not to give the insurance company an open door to sneak out from paying a claim. On the contrary, that language protects you from an insurer that is trying to avoid paying a claim. You have the right to appeal their decision if at first your claim is denied.

The exact same language is in your homeowner's policy, your medical insurance policy, etc.... And it is their for your protection.

There has been about $2 BILLION dollars paid in long term care insurance claims in this country. Most of that has been paid in the last few years. Each week millions of dollars are paid by insurers for long term care claims at home, in nursing homes and assisted living facilities. The better insurers have claims payment ratios of 97% and up. Meaning that very few claims are actually denied. Those that are denied are generally those that are covered by medical insurance anyway.

Please, do not let this "boiler plate" language which is in all insurance policies dissuade you from this very important purchase.

Sincerely,

Scott A. Olson, CLTC

Follow Ups:

Re: Insurance Rider : Mr. Allen, : EVERY long term care insurance policy contains language regarding an "appeals" process. That language in the policy is not intended to harm the policyholder. It is there for the protection of the policyholder. : The purpose of that language is not to give the insurance company an open door to sneak out from paying a claim. On the contrary, that language protects you from an insurer that is trying to avoid paying a claim. You have the right to appeal their decision if at first your claim is denied. : The exact same language is in your homeowner's policy, your medical insurance policy, etc.... And it is their for your protection. : There has been about $2 BILLION dollars paid in long term care insurance claims in this country. Most of that has been paid in the last few years. Each week millions of dollars are paid by insurers for long term care claims at home, in nursing homes and assisted living facilities. The better insurers have claims payment ratios of 97% and up. Meaning that very few claims are actually denied. Those that are denied are generally those that are covered by medical insurance anyway. : Please, do not let this "boiler plate" language which is in all insurance policies dissuade you from this very important purchase. : Sincerely, : Scott A. Olson, CLTC

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