Out surfing the net I came across yet one more reason you must get the truth of what agents and companies tell you about long term care insurance.  In an article most likely written by an agent or broker we read…

To begin evaluate your overall case: Do you have Alzheimer disease? If you do then you will need a long-term care insurance policy to cover expenses, such as long-term medical needs and care provider. If you have Alzheimer disease, you will need a policy to cover nursing home expenses in the future.

If you can find an insurance company that will cover you when you already have Alzheimer’s then you better be on the lookout for a scam.  Insurance companies are in the business of insuring against risk.  If you’ve already got the “whatever” you’re insuring for then it’s oops you’re too late.  In other words, you can’t get flood insurance when you house is flooded…oops should have gotten it before.  The same is true when it comes to long term care insurance.  Once you trigger the benefits you no longer qualify. Either the above is some type of mindless typo or an outright scam to rip off seniors or children trying to help.

Become self informed by reading consumer guides that really make clear what this insurance is really about.   When it comes to LTC insurance it pays to understand the whole picture.  Not just the idea of the insurance but how companies write contracts that may or may not favor you - the consumer.  This is why guides have been written about long term care insurance and why you should consider reading one before speaking to agents or companies.  Long term care insurance is one of the more complicated contracts you’ll read - understand what the contract says to really unlock the keys to what you have.