I shared this story a few months ago, but it warrants repeating as it is about both claims and communication.
A good friend of mine lost his father a year ago after a long battle with multiple illnesses. They received home health services for well over 2 years and were paying for that care out of pocket. The cost was pretty hefty (close to $400,000). When his dad passed, he left instructions for his son to ask me to assist him in the insurance portion of his final arrangements.
While wading through his policies, I came across a long term care policy that he had purchased decades earlier. It was a rich one with 5% compound inflation and unlimited benefits. And, it was in-force when he passed. Long story made short, we filed a claim for the care that his father received and ultimately received a check to cover the cost of the home healthcare services that he received.
The moral of this story is simply this … clients NEED to share their plans along with instructions of how they want things executed when something happens and they need someone to assist them.
(And, retain the receipts for any care that is received.)
OneAmerica offers several tools to help with the long term care claims experience. One is the Step by Step Guide to a Long Term Care Claim. This is a great piece to use with clients whether they are starting their planning or after they have a policy in place. It is full of great information and can be helpful for their family (or whomever will manage their affairs) when an extended care situation occurs.
The other is the OneAmerica Claims Concierge service. When a claim is imminent or has commenced, the Claims Concierge will help the family (or whomever is designated to manage their affairs) navigate the claim.
The tools are there – people need to be aware that they exist. And, that comes down to one thing – communication during the planning process, throughout their lives, and when a situation arises.
Fridays with Fisher 
You must be logged in to post a comment.