What to Know Before Purchasing a Long-Term Care Rider
The insurance industry has changed since I began my career. Long-term care insurance policies were the recommended option, and the company I started with even had their own stand-alone home health care policy.
A New York Times article "Aged, Frail, and Denied Care by Their Insurers" left me stunned on how insurance companies that sell traditional long-term care insurance policies deny claims when needed most and I had witnessed this on multiple occasions. It was difficult endorsing this product after all the backlash. According to AARP, 52% of people who turn 65 today will develop a severe disability that will require long-term care at some point in retirement. The U.S. Department of Health and Human Services reports that 70% of people over 65 will at some point in their lives.
