Shared Care

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. With some Long-Term Care Insurance contracts, the option creates a “third pool of money” equal to the individual benefit pool in each policy. With other contracts it allows couples to share each other’s benefits. When one spouse/partner predeceases the premium disappears but 100% of the unused benefit goes to the survivor.