Tren Griffin+ Your Authors @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. Jan. 11, 2020 1 min read + Your Authors

1/ Long Term Care (LTC) insurance is a subject I have learned a lot about lately. If an elderly person doesn't have someone like me to navigate the process, is buying a LTC policy a wise choice? I'm currently documenting the process of collecting benefits and will say more soon.

2/ I can't imagine an elderly person with dementia or Parkinson's being able to file and collect on a claim. My experience to date is with just one LTC insurer, but the process is clearly designed to delay and deny claims. I imagine some policy holders just give up (or forget).

3/ LTC representative: "You must provide X"

LTC: "I have the insurance contract in my hands. Where exactly does it require that?"

LTC: Laughs. "You need to find that language."

Me: "I need to find something that isn't there?"

LTC: "X is required."

The rep actually laughed.

5/ What does a wealth planner recommend to a client about LTC insurance if they do not have children or others who can file claims? Is this a wise use of funds in that case or generally? ADL= "Activities of Daily Living " = triggers (e.g., ability to eat) to obtain LTC benefits.

6/ Another task an elderly person must deal with is taxes. The US government could prefill tax returns and send them to taxpayers for corrections and a signature, but lobbying by tax preparation firms has prevented this from happening. So there is  https://www.irs.gov/newsroom/new-free-file-agreement-signed-to-strengthen-program-help-taxpayers 


You can follow @trengriffin.



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