Long-Term Care Insurance Benefits Denied?
As baby boomers aged, there was a boom in the sale of long-term care insurance during the 1990s. Now, however, an ever-increasing portion of our population, which is living longer and longer, is seeking protection under their long-term care policies. One insurance company executive described the situation as follows: "The long-term care party of the 1990s gave us one hell of a hangover in the 2000's."
Long-Term Health Care Insurance Is a Promise to Pay
Long-term care insurance ("LTC") is a contract or policy of insurance which promises, in exchange for the timely payment of premiums, coverage for expenses of long-term care, such as the costs of a nursing home or assisted living facility. As more and more Americans with long-term care insurance enter these facilities, the insurance industry faces difficulty making good on their promises. Some insurers, however, have miscalculated the profitability of certain long-term care insurance products. For example, many insurers fighting to get into the "long-term care party of the 1990s" overestimated policy lapse rates and miscalculated the mortality rates for the target population. Now, during the "hangover," insurers too commonly attempt to refuse payment of legitimate claims, sometimes on a global scale.
Had a Denial of a Long-Term Care Insurance Claim?
Denial of a long-term care claim or the loss of one's long-term care coverage can be devastating. Imagine becoming accustomed to life in a long-term care facility only to one day receive a letter from your long-term care insurer stating that it is "no longer medically necessary" that you or a loved one continue to receive nursing home care, and that benefits will end. This is a common exclusion cited by long-term care insurers to deny benefits. Without benefits, the elderly individual must tap into his or her assets to continue to pay for care, or must burden his or her family for assistance. Ultimately, once one's assets are exhausted, he or she is forced to seek government assistance.
If you or a loved one has had an insurance claim for long-term care benefits denied or a policy rescinded, contact the long-term care attorneys at Spangenberg Shibley & Liber for a consultation, and protect your legal rights. Call (877)-696-3303 for a free initial consultation.
Free Consultation · Contingency Fees · Spanish and Ukrainian Interpreters
Should you file a lawsuit? You won't know until you talk to an experienced attorney. Contact us or call us at (877)-696-3303 to arrange a free, confidential consultation. You can get answers, find out what happened, and help prevent similar needless injuries from happening to other people, too.
We handle our cases on a contingency-fee basis: if we can't help you recover money damages, you won't pay attorneys' fees. When you meet with us to discuss your case, it will be with an attorney, not an investigator or paralegal. We also have Spanish and Ukrainian interpreters available. Contact us today to get us started on investigating your claim from our Cleveland headquarters.
Experienced, Sophisticated, Reputable.
For more than 65 years, the attorneys at Spangenberg Shibley & Liber have represented victims of LTC denials in lawsuits throughout Ohio and beyond. Our attorneys have access to the most sophisticated technical and medical resources available to investigate and prepare your case to win. When the insurance company lawyers see our name on the lawsuit, they know it is well researched, carefully investigated and thoroughly prepared. For you, that means insurance company lawyers come to the table prepared to discuss a full and fair settlement - or we'll see them in court.
Remember, if you have a claim, there is most likely a statute of limitations clock running, after which you won't have the right to file a lawsuit. Protect your rights by contacting us today or calling us at (877)-696-3303.