Americans are generally living longer than they used to. At the same time, they don’t live as close to family members as they used to generations ago. These two factors often create an issue with who will care for you as you age and become less able to live independently. As such, long-term care insurance policies have become quite popular among aging individuals. However, many policyholders are finding it increasingly difficult to cash in on these policies like they should be able to. If this sounds familiar, the advice and direction of an experienced long-term care attorney near Chicago may prove invaluable to you and your family.
Long-term care insurance policies are usually purchased privately and not through employment like some life and disability insurance policies. Like other insurance types, long-term care policies are governed by state laws, which typically allows a broader range of damages for policyholders than those governed by the Employee Retirement Income Security Act (ERISA).
Suppose a long-term care insurer unreasonably denies an insurance claim without good cause by engaging in bad faith conduct. In that case, the policyholder has the legal right to sue for benefits due under their policy, as well as:
No matter what your specific coverage entails, insurers have a financial incentive to protect and inflate their bottom line. To increase their profits, they collect premiums and try hard to pay out less in benefits. Unfortunately, this inherent conflict of interest can motivate insurance companies to deny long-term care insurance claims wrongly.
Common reasons why insurance carriers deny long-term care claims include:
Bartolic Law is an experienced long-term care insurance law firm ready and willing to fight for you. You have rights when it comes to insurance claims, and we are here to ensure you can exercise them. With a knowledgeable Chicago long-term care attorney on your side from Bartolic Law, the insurance company is less likely to try to take advantage of you and deny your claim. Contact our office today to learn more about the services we offer and schedule your complimentary case consultation.