Dementia , LTCI , and Licensed Insurance Agent

[Mr_Ed]

@Mr_Ed Have I burned my bridges, or are we still on speaking terms?

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[ltcadviser]

It's been awhile since I did the reading and asked questions about these (LTCi) products, but I believe that one of the concerns mr_ed expressed about a single pay LTCi product is that the insurance company gets to turn around and use the large pool of your money first to pay for your care and the statistical (actuarial?) odds may not be in your favor to use the product long enough to get to their money. I think there were other wiser choices that he suggested one should investigate eligibility for first.

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[LostDollar]

Yes, they can ask him how the hell he's going to get LTCi on someone that has Dementia/Alzheimer's. True LTCi will do cognitive tests. Ask for any written material(app, brochure) that would say that. I'm sure that he only has plans to write the healthier spouse.

About 35 years ago, Globe Life "briefly" had a Med Supp that did what you seem to be suggesting. If one spouse could qualify, the other spouse automatically qualified.

Thanks for that response. Your comments helped me to give some reassurance to the person I wanted to help -- about how they might deal with the situation if necessary.

 

[LostDollar]

It wasn't meant in a derogatory way, my apologies if it came across that way. What I meant, is since you don't have any experience as an agent...be careful of the advice you give them.
They may want or need LTC for the other spouse and it may be a good fit for them, or it may not. Many times families that have gone through tough times with one family member, begin to investigate insurance coverage because of that experience (Iife, ltc, cancer, disability, etc).

I guess all I want to say right now is that I was not looking to advise anyone about LTCi.

What I needed was some ways to help someone involved in the situation understand how they might assess an insurance agent and determine if that person was going to be a responsible person to have a business relationship with.

 

[LostDollar]

Thank you to each person that extended the courtesy of a reply to my question.

I was not - am not - close to that situation and have no desire to be closer to it. The specific sales interview I was concerned about is now past.

To the extent I understand the facts of the situation, the "potential prospect" purchased a service from the insurance agent's organization that had absolutely nothing to do with LTCi. The "potential prospect" had a meeting with the insurance agent to attempt to obtain completed delivery of this service.

Circumstances surrounding the situation dictated the necessity of one more meeting. The insurance agent insisted that the "potential prospect" would have to sit through a presentation of LTCi prior to the agent's completion of the final delivery of the service. The "potential prospect" dealt with the situation, obtained his completed service and I doubt that insurance agent will ever have another opportunity with the "potential prospect" or his family again.