Most long-term care insurance plans provide a discount for couples who get insurance at the same time. Some even give a discount for one if their spouse is uninsurable. When we set up plans for couples they will fall into either a Shared Care plan or a Joint plan.
Shared Care means each spouse has their own policy. If one spouse goes through their entire policy or bucket or money, they can then access their spouses’ policy to cover continued long-term care costs.
Joint policies simply mean that both spouses are on one policy. Either spouse can use the benefits or both can draw from the plan until the benefits are gone. Some asset based plans offer joint policies with unlimited benefits meaning both can draw from the policy for as long as they need care. This is the ultimate in protection for couples.