Quote:
Originally Posted by ijusluvit
Unlike all other health and life insurance, it seems ironic to me that LTC providers are so fussy. You'd think they'd want the most unhealthy folks they could find, especially those whose illnesses are generally fatal in the shorter term. They approve those who seem to have the best chance at longevity including those who likely could spend years in care facilities collecting on their policies.
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Insurers make out by having a mix of clients that vary from those who will never need it to those who do. And as long as those who don't need to claim outnumbers those who do, they can stay in business or raise prices to stay even.
If they would have all clients who need to make a claim they will go out of business......hence the screening to not insure new clients that are 100% certain to be a benefit payout client up front.
We all need to get used to it as there will be more and more of this type screening of health care availability as Obamacare gets implemented and costs continue to soar.
btk