100 Day Deductible
Maybe it was my fault for assuming that a long term life insurance policy would fall into the catagory of disability insurance. I found out the hard way that there was no cash value to my policy. You don't use it. You loose it if you don't continue paying monthly premium. Now that I need disability insurance, I find that there were some clause I did not know about. I was told that there was a 100 days deductable period before the insurance company starts to pay the assisted living home. So I have to pay out-of-pocket for the first 100 days. Where or how am I going to get $17,000 to $20,000 when I've paid more than that to John Hancock Insurance for my policy!