Bit of a headscratcher! I guess the analogy is nursing homes are buying LTC policies and then maiming the beneficiaries so they require full-time help but stay

Bit of a headscratcher! I guess the analogy is nursing homes are buying LTC policies and then maiming the beneficiaries so they require full-time help but stay alive long enough to beat the premiums? :) If you just meant you had trouble getting LTC to payout, that may be. The payout ratio is close to 1.0, slightly better for women and significantly worse for men (the women-to-men ratio is skewed among the elderly.) So the industry makes its money on float like other competitively-priced insurance products. But it’s still difficult to qualify for a good home or get in-home care approved and started. Staying in it longer than six months is also challenging, and can draw extra scrutiny since patients who stay longer than that are likely to stay closer to two years, which makes the policy a big money-loser. It doesn’t help that most agents only sell LTC as an add-on to boost their production, rather than consult with it as an expertise.