Aging in America isn’t cheap and sadly retirees and our aging population can fall victim to numerous types of fraud. One of the ones we see most commonly is unexpected rate increases and lack of coverage with long-term care policies. Not all instances of increasing rates and premiums by insurance companies necessarily constitute fraud, but insurance companies are required to follow certain protocols and obtain the right permissions from the proper agencies and solely take actions that align within the scope of the policy. Often times, long term care insurance rates are established through the individual states, and insurance companies are prohibited from increasing their rates above the state’s established maximums as well as other policies like not raising premiums beyond a certain age.
Long term insurance fraud can consist of other actions beyond rate increases, like:
If you believe that your insurance company has been overcharging you or if you have been victim to any of the above situations, it is likely that this is happening broadly by the insurance company and it is affecting many people in similar situations to you and may constitute a class action. The business lawyers at Loftus and Eisenberg are here to ensure that long term care insurers are acting within their parameters and represent those who are insured. If you believe you were a victim on long term care insurance fraud, reach out to the lawyers at Loftus and Eisenberg to see if you have a case.
If you think you have been a victim of insurance fraud, please fill out the short intake form with details and attach any relevant copies of your insurance policy and associated documentation to help us understand the increases.the insurer is implementing. Although the firm of Loftus and Eisenebrg is based in Chicago, we partner with lawyers licensed throughout the United States to handle cases that impact those across state lines so you do not have to be an Illinois resident to be eligible.
If you are interested in a free consultation to determine if you have a claim and may be entitled to a refund or some sort of compensation, please fill out the short intake form or call us at 312-899-6625.