Is long term care insurance just a scam..?

While every business has it’s seedier elements, I’ve known parts of the insurance industry from the inside, and I now believe that the vast majority of the suspicions about & accusations leveled against “insurance” are due to 1. the accuser’s ignorance of risk, probabilities & the insurance mechanism, and 2. the unconscious, projected, larcenous intentions & impulses of the accuser himself.

Long term care insurance meets different needs for different folks. My uncle had insurance which saved his estate from depletion and honored me with a small inheritance which would have otherwise gone for long term care expenses.

It’s silly to use a term like scam to refer to a useful tool, just because a person doesn’t understand it in it’s glorious fullness.

Me? The cost of having Multiple Sclerosis has drained our savings, and Kimberly hasn’t had break from 24/7 caregiving in years.

Scam, hell. Insurance woulda saved our butts - Bigtime….

In any case, don’t let yourself be a victim of financial fraud. Be concerned if:

You have any reason to suspect a negotiable item (official check, money order, personal or business check) is not valid.

You receive a negotiable instrument via an overnight delivery service.

You have been instructed to wire, send or ship money to a large U.S. city or to another country.

You have been asked to pay money to receive a deposit from another country.

You receive a negotiable instrument connected to communicating with someone by e-mail, such as you have been informed that you were the winner of a lottery (especially in another country) that you did not enter.

You are receiving pay or commission for facilitating money transfers through your bank account.

You responded to an e-mail requesting you to confirm, update or provide your account information.

You could find yourself a victim if you do succumb to fraud. Banks want consumers to know that if a negotiable item is later returned, you will be held liable for the bad check. Even when a “hold” on funds from a deposited check is lifted, that does not mean the item has cleared.

Info courtesy of the online, Long Term Care Insurance Buyer’s Advocate Alliance. Get your Free Comparative Quotes today.

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