What Are Shared Long-Term Care Benefits Between Spouses?

Every married couple has the choice to keep their assets separate or combine them into one, but many spouses make their decisions with no true reasoning behind them. Leaving some things separate may seem easier to some, but there could be benefits that you’re missing out on by not sharing accounts. A big example of this has to do with long-term care which you may have to rely on at some point in your life.

To get the most out of your benefits, the financial experts at A. Roberts & Associates are here to explain how shared long-term care benefits between spouses may be worth looking into. When you’re ready to get started, be sure to visit your reputable financial advisors for insurance solutions near you!

What Happens When You Keep Your Insurance Accounts Separate

Many married couples prefer to have individual insurance accounts for fear of accidentally having a negative impact on each other’s benefits, but it’s actually quite the opposite. There may be times when you’re caught between a rock and a hard place, and having shared long-term care benefits may present the only solution to remedy the situation.

Why Some Couples Insist On Keeping Things Separate

Sharing long-term care benefits can sometimes cost a little more upfront which is another big reason as to why many married couples are hesitant about pooling their resources together, but the flexibility of how you can use your benefits makes it worthwhile.

Why It’s Worth It To Go With Shared Long-Term Care

What makes sharing long-term care benefits so great? Rather than having an individual amount that you’re limited to, shared accounts allow you to utilize each other’s benefits. This can come in handy in a couple of scenarios:

  • One spouse may not use up all of their benefits, but the other spouse may have used up all of theirs and is in need of more.
  • If one spouse should become deceased, the rest of their benefits will go to the other spouse rather than being wasted.

Whether you have a leftover balance that you want to give to your partner, or you have used up your benefits and need to reach into your spouse’s balance, shared long-term care benefits give you the power to use your allowance however you wish. This is an invaluable ability that you won’t have if you keep your accounts separate. Of course, you can always consult your local financial experts to learn about more ways that this shared benefit can help you and your spouse!

Where You Can Use Shared Long-Term Care Benefits:  
Nursing homes Assisted living facilities Adult daycare centers Home health agencies Senior transportation services Emergency services

Plan Your Shared Long-Term Care With A. Roberts & Associates!

Still not sure if shared long-term care benefits are right for you and your spouse? Contact A. Roberts & Associates today to schedule a consultation so we can help find insurance solutions that best fit your needs. We aim to use our unwavering dedication and years of expertise to be your go-to place for proper planning so you can enjoy comfortable living, worry-free!