Quick Answer
A survivor benefit allows a couple with LTC Insurance to stop paying premiums if one of the spouses passes away.
A survivor benefit allows a couple with LTC Insurance to stop paying premiums if one of the spouses passes away.
A survivor benefit is a Long-Term Care Insurance rider for couples. This rider allows a surviving spouse to stop paying premiums if their partner passes away.
For a survivor benefit to work, both spouses must have Long-Term Care Insurance with the survivor rider.
If one of the spouses passes away, the surviving spouse would be able to convert their policy to paid-up status. Paid-up status means the surviving spouse would no longer need to pay premiums.
Policies with survivor benefits usually have higher premiums while premiums are still required.
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