My Mom purchased Long Term Care insurance from Bankers Life a few years (3?) ago. Last December we went to make a claim for this policy as she went into a nursing home to recover from cancer. (She has since received word that cancer is in remission). Back to the story - Called the agent and all was well, we'll get her records and you will get your money before you know it. Several months went by (April by now, and much pain the the rear) and we receive word that Mom did not qualify for LTC insurance, here is all your premiums back and you no longer can qualify for LTC insurance from us.

As i reviewed the policy, she had to answer about 10 health question which she obviously answered some off the questions wrong and did not qualify at the time the policy was purchased. But the took her word for it and took her money.

Now - my bitch with them is that once a claim is made, THEN they dig through your medical records to see if you qualify for the coverage which you have been paying for for the last number of years. If you qualify then you get paid, if you do not qualify they send you your money back. Should they not dig up your records once you take the policy out to make sure you do qualify? Then if you don't qualify with them, you have the option to look around for other LTC insurance. 

My Mom could afford her care by her self, but there are people who are counting on this to help then out once the time comes and can not afford it on their own, wouldn't that be a shot in the rear.

Lets say that you take out LTC insurance and you really did not qualify for coverage, but they take your money any way, and you have it for a number of years, you die.You did not need to have a claim against the policy, but they keep the money even though they would have never paid out a claim on your policy cause they would have found out you did not qualify, and at that time return your premium dollars. Looks like a rip off to me.