We recently received a question on one of our most popular blog posts about long term care insurance rankings, but this time it had to do with a companies claims record. This is great question and one we're sure many people have, so we wanted to share our feedback:
In your ratings of the Best Long Term Insurance Companies you failed to include information on their “Claims Records”; do they honor claims on their policies on a timely basis without putting up roadblocks or is every claim a hassle?
You can learn of a company’s claims payment history by contacting your state insurance department. Insurance companies are required by law to file this on an annual basis. The companies that we have in our portfolio all have a claims payment history of 97% or higher. My personal experience has been excellent. The folks that work in the claims departments treat these folks as if they are part of their family.