How About You?
Today I would like to share a story that was told to me a short time ago by two close friends, Ethel and Gloria that was quite upsetting.
This is what Gloria shared with me:
“Recently my neighbor and good friend Ethel got sick. I was worried about when she came home from the hospital how she would take care of herself. When I visited her before her coming home we discussed this issue she said, “Don’t worry, I bought a Long-Term Care Policy years ago.” What a relief we both thought.
When Ethel came home she hired a Home Health Care agency to assist her…and as Paul Harvey used to say – Here is the rest of the story…
When she got home from the hospital, she got out her Long-Term Care policy to give the agency her information. As she was reading her schedule page of benefits she noticed an elimination period, benefit amount, as well as a section called eligibility of benefits. Needless to say she did not have a clue as to what all of that meant.
What she found out was she had an elimination period (deductable). A number of days that she would have to pay before the insurance policy would begin paying. Also there has to be documentation from her Doctor and the Home Health Care agency as to the Activities of Daily Living assistance needed. She could not determine whether her aide could go grocery shopping and then drive her to her doctors appointment. How many hours is she entitled to.
As the paperwork started to come in the mail from the insurance company she was overwhelmed. Does she have to pay the agency and then file to the insurance company to get reimbursed. So many questions …No one to help.
I said to myself, I have a Long-Term care policy I bought years ago. It has been in my file cabinet since I purchased it, I have not looked at it in years. I have no idea where the agent is who sold me the policy. I have not heard from him since I go the policy. What will I do when I need to use my policy?”
This situation is unfortunately too common. So many people did the right thing years ago and bought Long-Term Care policies to protect themselves. However those professionals (they claimed to be) the agents that sold these policies are no where to be found. So just like these two friends, they are at the mercy of the insurance company. I said this before, you must have an advocate to assist at your time of need.
The good news, both of these lovely ladies, Ethel and Gloria have me as their advocate and will never have to worry about any future issues regarding their policies.
How about all of you?
You bought a Long-Term Care policy, (which was the right thing to do), have you looked at it? When is the last time you took it out and had a review? Is your agent still around to assist you? Do you understand your benefits? Are there any Restrictions?
When you get ill is not the time to start to educate yourself.
Let me be your advocate.
Abe Glickman, LTCA, LTCP
Member: AALTCI, NAHU, NAIFA, SOA
Abe Glickman Insurance Group
Toll-Free Phone: 877-298-5824
“It is better to create a plan 10 years too soon than one day too late.”
Questions or Comments? Give me a call!