Long term health care insurance scams are just as prevalent as other types of scams. If you are interested in buying long term care insurance you need to be aware of tricks of the trade to prevent your pocketbook from being picked by unscrupulous insurance agencies and scam artists.
The first scam that you can be victimized by is one that claims to be an alternative option to long term care insurance. This scam sells a protection plan for long term care. While some of these offers may be legitimate, they are so new to the market that they have yet to be proven one way or the other. However, the medical coverage discount plans that cover long term care procedures are legitimate and if they are offered by reputable organizations are okay to buy.
Another scam, or rather trick, that some ltc insurance agents use is a high pressure sale tactic on vulnerable demographics. They may target senior citizens or people who have high risks for certain degenerative or chronic illnesses and try to scare them into buying a policy that is full of bells and whistles that they don’t need. It is important to understand what coverage you already have and compare it to what is covered by your other insurances. You don’t want to double up on your coverage as this is just a waste of money.
Have you been targeted by an insurance scam? Have you heard of an ltc scam? Do you know of insurance agents that are less than reputable? Post your remarks below and help others from being victimized.
