How Many People Actually Collect From Their LTC Insurance?

I’ve been in practice over 35 years. I’ve not been able to accurately count, but I know a few hundred policyholders have called me, asking for policy benefit reviews because they need to collect from (“file claim on”, to use insurance jargon) the long-term care insurance (LTCI) policy I sold them. I sold many of these policies 20+ years ago. Miraculously and gratefully, I am still healthy, cogent, professionally sharp, and present to answer these claim calls. My clients are so grateful! I am able to calm my clients, describe what they should be entitled to, and direct them to their next steps forward.

Most interestingly, for every client who contacts me prior to needing to file claim, I believe there are double or triple the number of clients who never contact me, yet still collect. There are several ways I learn this. I read obituaries, particularly those in Houston’s Jewish Herald-Voice newspaper, whose readers I sold quite a few policies to. My client’s obit often includes words like: “The Schwartz family also wants to thank “Name 1” and “Name 2”,  long-time caregivers, for their devoted service to their mother.” I know the odds are low that this client would have been able or willing to pay long-time caregivers without owning a LTCI policy.

Here’s another example I just learned about, an unsolicited quote from a Facebook Messenger friend: “BTW, my sister-in-law, Catherine S**** passed away. She was one of your LTC clients. That policy was a godsend because she was in Memory Care for the last 4 years.”  This client never contacted me prior to claiming on their LTCI. I’ve learned about many claims this way and from texts and emails.

LTCI ownership is transformative for policyowners and their families. For more examples of how and why, visit my Testimonials Page.