Shared Care
What Does 'Shared Care' Mean?
This is a rider which can be included in a Long-Term Care policy which has become very popular for couples. Shared Care allows unused benefits to be used by a spouse or partner. This option is available when spouses or domestic partners both buy policies with identical benefits.
More Information
The shared care rider is a popular option for couples, allowing spouses to use the other's unused Long-Term Care Insurance benefits. This option is available to spouses or domestic partners who buy policies with identical benefits.
Some Long-Term Care Insurance contracts with shared care riders create a third pool of money. Both spouses have equal access to this third pool of money if either exhausts all the benefits of their original policy.
Other contracts may allow couples to share each other's benefits. When one spouse or partner passes away, the premium disappears, and 100% of the unused benefits go to the survivor.