Way around rate increases?

[kstein]

I have a client that has Transamerica ltc effective 2003 from Florida. Client is now 85 and has dementia but his wife ( who has same policy and in good health) takes care of him.

Would it be possible for him to go on claim bc of dementia and not use the benefits to enact wavier of premium?

I didn't write the Transamerica so my understanding of claim language is limited.

 

[ltcadviser]

Your client should definitely file a claim. Surely the wife could benefit from a little help. And the husband’s premium would be waived, and the elimination period can begin to be satisfied.

 

[kpbdy99]

For God's sake, file a claim!

 

[kstein]

That's what I told them!

 

[kpbdy99]

Explain to her that the care she's giving her husband is the reason they bought the policy, and she should start the claims process right away. If the policy helps her hire home health aides, she'll be able to do a far better job of taking care of her husband without wearing herself out, and clearly that's going to be important to her. She'll probably need some help with the paperwork, but once the claim form is submitted, the process is typically quite user-friendly. Once she's assigned a claims rep, that person will help her with a lot of this.