‘Shared Care’ Growing in Popularity for Couples Purchasing Long-Term Care Insurance – Washington Post – 06/15/12

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The Washington Post

Business – June 15, 2012

‘Shared Care’ Growing in Popularity for Couples Purchasing Long-Term Care Insurance

By Associated Press

For married couples, an increasingly popular option called “shared care” may make it more feasible by providing expanded coverage for less money than would otherwise be the case.

Under these joint policies, couples purchase a combined pool of benefits that can be used by either or both spouses.

A look at the shared-care option within the broader context of changing long-term care insurance:

Q: What does long-term care insurance cover?

Q: Who needs it?

Q: What happens if you don’t have it?

Q: How does shared care work?

Q: Does it cost extra?

Q: So what’s the typical overall cost?

Q: Who is it best-suited for?

Q: Why are we hearing about shared care now?

Comments June 16, 2012

Another Important Question: What Happens to My Policy if My Spouse or Partner Goes on Claim?

Some long term care insurance policies have a feature called waiver of premium – when you go on claim you stop paying for your policy. Some shared care policies have a feature called joint waiver of premium – when either you or your spouse or partner go on claim both of you stop paying for your policies.

Contact us to learn more about long term care insurance.

Aaron Skloff, AIF, CFA, MBA
CEO – Skloff Financial Group
http://skloff.com/services-ltci.htm

Aaron Skloff, Accredited Investment Fiduciary (AIF), Chartered Financial Analyst (CFA), Master of Business Administration (MBA), is the Chief Executive Officer of Skloff Financial Group, a Registered Investment Advisory firm. The firm specializes in financial planning and investment management services for high net worth individuals and benefits for small to middle sized companies.  He can be contacted at www.skloff.com or 908-464-3060.

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