Estate and retirement planning attorneys will always advise clients to take pause before entering into contracts they may not fully understand. This is true when you are purchasing insurance policies, and many senior citizens are taking out long-term care insurance to pay for living assistance if it becomes necessary.
Long-term care insurance can be a viable solution to a challenge that many seniors will face at some point in time. The majority of people who are fortunate enough to reach the age of 65 are going to need some form of long-term care eventually and Medicare will not pay for it.
A Kentucky woman named Jeanne Crutchfield presumably thought she was doing the responsible thing by taking out a long-term care insurance policy back in 1992. Some 17 years later she contracted Alzheimer’s disease and needed care.
At this point, Ms. Crutchfield and/or those who were assisting her chose a particular facility with the understanding that the costs would be absorbed by the insurance company.
However, the insurer would not pay the bills. The company contended that the facility that Ms. Crutchfield was staying in did not meet the requirements as stated in the policy agreement.
The matter wound up in court, and ultimately the insurance company won the case.
This is a situation that underscores the value of legal advice every step of the way when you are making decisions as a senior citizen. A good elder law attorney will be able to guide you away from mistakes that could have serious financial implications.