- 122
I tried calling my state program and got absolutely no where. Here is the question:
Husband: $360,000 lifetime benefit policy (no shared care rider)
Wife: $360,000 lifetime benefit policy (no shared care rider)
Three questions:
1. If husband needs LTC, exhausts policy benefits, but the wife is in good health, would the two policies only protect $360,000 in assets given the wife has not used any of her benefits?
2. If the wife needs LTC later and exhausts her policy benefits, but only had $360,000 in assets protected from question #1 when the husband depleted their assets, does her policy offer any additional asset protection? It would seem that would not be the case if the assets were already depleted when the husband needed care.
3. To go one step further, if the wife only had $360,000 in assets left to while the husband is receiving care, then uses that to live on and continues to deplete the assets to say $100,000 before needing care, would only the remaining $100,000 be protected even though she has a partnership policy with $360,000 lifetime benefits?
Husband: $360,000 lifetime benefit policy (no shared care rider)
Wife: $360,000 lifetime benefit policy (no shared care rider)
Three questions:
1. If husband needs LTC, exhausts policy benefits, but the wife is in good health, would the two policies only protect $360,000 in assets given the wife has not used any of her benefits?
2. If the wife needs LTC later and exhausts her policy benefits, but only had $360,000 in assets protected from question #1 when the husband depleted their assets, does her policy offer any additional asset protection? It would seem that would not be the case if the assets were already depleted when the husband needed care.
3. To go one step further, if the wife only had $360,000 in assets left to while the husband is receiving care, then uses that to live on and continues to deplete the assets to say $100,000 before needing care, would only the remaining $100,000 be protected even though she has a partnership policy with $360,000 lifetime benefits?