Call us today for a consultation! 949.492.3350 Practice Areas About Our News Contact The Gibbs Law Firm News Recent Posts How Your Stage in Life Impacts Your Estate Planning When Is It Time to Declare Bankruptcy? Holiday Hours & Exciting Changes in 2021 Wishing You and Yours Happy Holidays! Credit Card Debt & Chapter 7 in California Is My Will Valid in California? What Can’t Be Accomplished in California Bankruptcy? Don't Skip This Important Step for Your Living Trust Update To Our COVID-19 Response | 03/17/2020 Our Response to COVID-19 | 03/12/2020 Pay Attention To The Small Details When Dealing With Long Term Care Insurer A long-term care insurance company recently cancelled the insurance coverage of an elderly woman who accidentally wrote the wrong amount on her premium check. The case illustrates the need for policyholders to pay attention to the details. Madeleine Maldonado, of Concord, Massachusetts, had a long-term care insurance policy through AIG. According to an article in the Boston Globe, when Ms. Maldonado wrote a check to pay her $3,399.91 long-term care insurance premium, she put down the correct amount in the number box, but she accidently wrote out “three thousand three hundred and 99/100 dollars.” Under banking and finance rules, if a check has contradictory terms, the words are considered the correct amount. Therefore, Ms. Maldonado's premium payment was $98.92 short. AIG sent the 81-year-old Maldonado a past-due invoice for the amount she owed, and when Ms. Maldonado did not respond, they cancelled her policy. Ms. Maldonado's daughter appealed to the company to accept a late payment, but the company refused. Her mother now has dementia and no long-term care coverage. This incident illustrates the need to be extra careful when dealing with long-term care insurance companies. You need to make sure all your I's are dotted and your T's are crossed because small mistakes can lead to huge problems. It is also important not to ignore letters or notifications for payment from the insurance company. For more information about Ms. Maldonado's coverage loss, click here . For more information about long-term care insurance, click here . Show More Upcoming Events November 2021 Mon Tue Wed Thu Fri Sat Sun 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1 2 3 4 5 For more information regarding how The Gibbs Law Firm may assist you, please contact us today. CONTACT US Practice Areas Estate Planning Real Estate Bankruptcy Business Law Contact info (949) 492-3350 903 Calle Amanecer, Suite 215 San Clemente, CA 92673 Privacy Policy | Electronic Communications © 2021 All Rights Reserved | The Gibbs Law Firm | Website Design by GoBeRewarded