“Lapse In Long-Term Care Insurance Doesn’t Necessarily Ruin Coverage,” by Diane Omdahl, Forbes

Quote:

“In a previous post, I shared my father Rusty’s experience with long-term care (LTC) insurance. He purchased a policy when he was almost 65 years old. Ten years later, he was diagnosed with prostate cancer. Sometime around age 85, he started analyzing how much he was paying for all his coverage – Medicare, a retiree plan, and LTC policy – and determined that he was over-insured. He didn’t need the LTC policy, he thought, because Medicare and his retiree coverage would take care of him, a common fallacy. So, he quit paying the premiums.”

 

 

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Click through to find out what happened.