Just say no--after war, the biggest scam there is

Insurance, that is. The NY Times has an article today about long-term care insurance bought by the elderly to prepare for the day when they can no longer care for themselves. Unfortunately, when they can no longer care for themselves, they generally can no longer pursue, or even remember, the insurance coverage they have paid for for years.

... thousands of policyholders say they have received only excuses about why insurers will not pay. Interviews by The New York Times and confidential depositions indicate that some long-term-care insurers have developed procedures that make it difficult--if not impossible--for policyholders to get paid. A review of more than 400 of the thousands of grievances and lawsuits filed in recent years shows elderly policyholders confronting unnecessary delays and overwhelming bureaucracies.

When my mother was suffering from dementia, she often couldn't remember her own name--much less any long-term-care policies she may have purchased. The bureaucratic nonsense is simply intimidation of a population very easily intimidated. Which of course helps the stock price.