LTC Long Term Care--Getting Paid

LTC, Long term care, as more and more people opt into this insurance, start with the basics. Remember, it's insurance, they don't want to pay and they do want to collect your premiums, you want to pay as little as possible and have access to funds in case you need them--We are not partners with our insurance companies, we are at odds with them, our interests are oppositional and our relationships, often times are adversarial. Long Term Care is no different in this way. Your insurance agreement is a CONTRACT. Therefore, the document, and its riders should first and foremost be available. Make sure you have a copy. YOUR FIRST BEST CHANCE OF COLLECTING IS HAVING THE DOCUMENT BACK YOU UP. Second and more realistically, think about what you are insuring. Chances are you will not be handling your own paperwork when you seek the benefits covered by long term care. YOUR SECOND BEST CHANCE OF COLLECTING IS GETTING A SIGNED AND WITNESSED HEALTH CARE PROXY THAT APPOINTS SOMEONE TO HANDLE YOUR HEALTH CARE IN THE EVENT YOU CAN'T, INCLUDING YOUR INSURANCE CLAIMS. Make sure you send a copy of this document to the long term care insurer and that you get confirmation that they received the document and will accept your appointed representative in the event such time comes. So when you meet with family this season, take the opportunity to swap documents, because the value of your insurance only applies if you or your rep can get when the need arises.