zlacker

>>wallfl+(OP)
Delay, deny, defend --- this is the insurance industry's modus operandi.

Insurance is the only industry where customers are the enemy.

>>jqpabc+A3
The crucial understanding is that incentives are cross aligned because the product is risk coverage.

The more immediate/pressing your need for risk coverage, the worse it is for them to sell it to you. The less you need it, the better it is for them to sell it to you and the worse for you to buy it.

Pretty different than ice cream or cars or housing. Too many people just think “oh corporate greed” without thinking about the underlying economics (partly because of how us culture pretends markets are magic).

>>wwwest+vi
Yes indeed. Part of the problem is having “insurance” draining part of the resources. Long term care means it isn’t an “accident,” but a constant recurring cost. Saving the money up front, producing income, and paying directly for what you need is often a better strategy.

>>mixmas+Bu
I think this underestimates the "cost" of LTC.

And also doesn't consider when the LTC starts. It could start at any time, even before working age.

>>esseph+551
Companies are not in business to lose money, and you have to fight them to collect. That there are some low probability exceptions is not enough in their favor imho.