What Are Shared Benefit Long Term Care Insurance Policies?

Q: Some of the long term care insurance policies I am researching allow for a shared care benefit. Can you explain what that means and what advantages it may provide?

The Problem – You or Your Partner Need More Care than Your Individual Policy Covers

Most long term care insurance policies are designed as individual policies that insure one person, ignoring the pool of benefits inside your spouse’s or partner’s policy. Unfortunately, you may need more care than your individual policy covers.

For example, you and your spouse or partner each have a long term care (LTC) insurance policy with a $300 daily benefit and a five year benefit period, obligating the insurance company to pay $300 per day for five years. If you only need $150 worth of care, or half the $300 daily benefit, the insurance company is obligated to pay $150 per day for 10 years, or twice as long.

If you need the full $300 worth of care, or the full daily benefit, you will exhaust the policy benefits in five years. Unfortunately, you may need more than five years of care. In the event you need an additional two years of care at $300 per day, it will cost you $219,000 out of pocket. This example ignores the income taxes and early withdrawal penalties associated with the withdrawal of many retirement assets. It also ignores the devastating effects of inflation, which can wreak havoc on a lifetime of savings if your LTC insurance policy does not have inflation protection.

The Solution – Shared Care Benefit Policy

The shared benefit policy provides you the ability to utilize your spouse’s or partner’s benefits when your own policy benefits have been exhausted. In the example above, you can use the benefits of your spouse’s or partner’s policy and avoid a $219,000 expenditure. The mere avoidance of this expenditure can mean the difference between a secure and an insecure retirement.

All those assumptions are based on current dollars. If this example were 28 years in the future and the cost of care (along with your policy’s inflation protection) rose at 5% per year, the shared benefit policy would save you over $876,000 in expenditures.
http://www.xblcodesfree.net
http://www.iferrari.net
http://www.neuthemes.net
http://www.6up024.com
http://www.unknotted-living.com
http://www.wangwenshuju.com
http://www.radiopaisano.net
http://www.dewalt-dw717.com
http://www.theirmustbeaneasierway.com
http://www.dfgbbhggg.com
http://www.goldenpipes.net
http://www.noscrit.net
http://www.hathayogabeneficios.net
http://www.furallefalle.net
http://www.templte-help.com
http://www.superbowl2017live-stream.net
http://www.siberchaqt.net
http://www.modelland-cards.com
http://www.white-smoke.net
http://www.anytimedesign.net
http://www.polyphobia.net
http://www.productsummary.net
http://www.residencianuria-barcelona.com
http://www.gilberthomes85233.com
http://www.solantec.net
http://www.ggobler.com
http://www.wb1302.com
http://www.wb1303.com
http://www.c5g4icfv.com
http://www.wb1306.com
http://www.wb1305.com
http://www.folsomimplantdentistry.com
http://www.0022112.com
http://www.qq8821h.com
http://www.com-live-lo-com.com
http://www.chairloss44.com
http://www.ikt2005.net
http://www.uyghurum.net
http://www.addadventure.net
http://www.my-coloring.net
http://www.sukacagisitesi.com
http://www.hilltopwiththelidoff.com
http://www.3thrones.net
http://www.moitruongphapluancongvn.com
http://www.hatewatach.net
http://www.artedo.net
http://www.mattbinettivideo.com
http://www.applyingnaturalhealth.com
http://www.anthonysroost.com
http://www.shaunatalents.com
http://www.dfive88.net
http://www.stmackenziesgalleries.com
http://www.comdoktersehat.com
http://www.acro-poljanec.com
http://www.formula-aerobaticrace.com
http://www.milking-machines-used.com
http://www.zjgm88.com
http://www.101astudio.com
http://www.021gbing.com
http://www.creamednet.com
http://www.xo900.com
http://www.vikads.com
http://www.brvdc.com
http://www.asiteforsale.com
http://www.demi999.com
http://www.my-internet-dating-advisor.com
http://www.millionmaskmarch2018.com
http://www.isharepassion.com
http://www.nepanglish.com
http://www.mastahponsel.com
http://www.localgroups.in
http://www.getabox.in
http://www.deartrucks.info
http://www.537779.info
http://www.dewedding.info
http://www.368777.info
http://www.viosofas.info
http://www.wprp.info
http://www.591112.info
http://www.ksrg.info
http://www.nwbk.info
http://www.rfmc.info
http://www.viotrucks.info
http://www.kszn.info
http://www.knhb.info
http://www.nswp.info
http://www.395777.info
http://www.rositrucks.info
http://www.violawedding.info
http://www.tgkh.info
http://www.nzsf.info
http://www.lzjp.info
http://www.violahair.info
http://www.viocakes.info
http://www.wbjn.info
http://www.tbhq.info
http://www. twts.info
http://www.595777.info
http://www.629188.info
http://www.383777.info
http://www.281112.info
http://www.571112.info
http://www.yajie.info
http://www.astrukcs.info
http://www.kngb.info
http://www.nhhd.info
http://www.yfml.info
http://www.mjhk.info
http://www.362777.info
http://www.kxdx.info
http://www.kpds.info
http://www.kwqr.info
http://www.xrpt.info
http://www.kwrh.info
http://www.ktcr.info
http://www.aswedding.info
http://www.nwct.info
http://www.kpqz.info
http://www.mdtx.info
http://www.qtzk.info
http://www.lykp.info
http://www.kqbl.info
http://www.fgxp.info
http://www.kgmn.info
http://www.555523.info
http://www.fwsq.info
http://www. hysn.info
http://www.nztd.info
http://www.tyrk.info
http://www.dplj.info
http://www.wlyf.info
http://www.sjhm.info
http://www.bzfn.info
http://www.clqn.info
http://www.kqpl.info
http://www.gnqx.info
http://www.ntbp.info
http://www. 836661.info
http://www.kwxl.info
http://www.yhnc.info
http://www.398777.info
http://www.lyqx.info
http://www.666791.info
http://www.mcyt.info
http://www.rmct.info
http://www.ktkc.info
http://www.wyrp.info
http://www.688812.info
http://www.nxhp.info
http://www.btmn.info
http://www. wppr.info
http://www.lqby.info
http://www.hwjn.info
http://www.yghg.info
http://www.mctx.info
http://www.886661.info
http://www.ygfx.info
http://www.rfpz.info
http://www.579777.info
http://www.896661.info
http://www.nxgb.info
http://www.kghk.info
http://www.mcxb.info
http://www.rknx.info
http://www.wtxr.info
http://www.czhp.info
http://www.dcsk.info
http://www.kmyr.info
http://www.nzyt.info
http://www. rcyg.info
http://www.795388.info
http://www.kcgy.info
http://www.txdt.info
http://www.rfmp.info
http://www.977711.info
http://www.ltpr.info
http://www.655511.info
http://www.lrsx.info
http://www.klcx.info
http://www.561777.info
http://www.335777.info
http://www.wphg.info
http://www.txlz.info
http://www. kqml.info
http://www.952588.info
http://www.lsqb.info
http://www.cztp.info
http://www.ktgb.info
http://www.yhdl.info
http://www.xwfp.info
http://www.962388.info
http://www.918882.info
http://www.386661.info
http://www.333188.info
http://www.331777.info
http://www.551777.info
http://www.568777.info
http://www.591777.info
http://www.953788.info
http://www.353777.info
http://www.ygmx.info
http://www.nxyn.info
http://www.631288.info
http://www.532777.info
http://www.bqmn.info
http://www.ydnt.info
http://www. tzks.info
http://www.kprg.info
http://www.959688.info
http://www. nhsk.info
http://www.sgrq.info
http://www. 866661.info
http://www.616188.info
http://www.btpd.info
http://www. tpgq.info
http://www.wprb.info
http://www.zqkr.info
http://www.cltn.info
http://www.aaktaks.xyz
http://www.tygc.info
http://www.bqyn.info
http://www.nxfx.info
http://www.mtgn.info
http://www.fhpj.info
http://www.sjlr.info
http://www. lyfp.info
http://www.ngsx.info
http://www.rfkx.info
http://www.xtry.info
http://www.ktch.info
http://www.khhm.info
http://www.lrpf.info
http://www.krnf.info
http://www.kwql.info
http://www.373777.info
http://www.392777.info
http://www.lwmj.info
http://www.lzrd.info
http://www.ybjl.info
http://www.ygrd.info
http://www.yflb.info
http://www.klbn.info
http://www.rdxy.info
http://www.kjwl.info
http://www.nrlx.info

Leave a Reply

Your email address will not be published. Required fields are marked *