LTC insurance failures

[Kay/NC]

Of course, insurance companies want tort reform...it totally limits their downside risk for paying out claims on injuries and problems like malpractice.  Also, greatly controls their legal costs in defense of claims. 

The injured and damaged wiuld have limited recourse to cover their care  and support.  Present system sucks, but that could possibly be worse. 

Not that premiums would dcrease any, if they managed to get their way....

[kraft-t]

After you need log term insurance is too late. When ltc is needed it can gobble up assets at an alarming rate. And sometimes the family looses it's income along with the health of the party. my mom had a man in his 50's in the care center.

My son in law had grand parents in nursing care at the same time. $5 k per month for each and that gobbled yup their free cash in a short time. Their son started paying the nursing home care out of his own pocket to preserve their small family farm. Fortunately they both passed on  before it broke him.