Personal Note: Our decline rates are much lower than the industry average of 17%. Because of our 20+ years of experience, we do thorough pre-screening for each client. Less than 10% of our clients are declined each year (even our clients who apply for policies in their sixties and seventies.)
44 states, in cooperation with the federal government, have launched a Public/Private Partnership for Long-Term Care. Owners of a government-approved Long-Term Care Partnership policy can protect their assets from Medicaid “spend-down” (while they are alive) and Medicaid “estate recovery” (after they pass away).
For example, a married couple both age 61, in average health, could share a Long-Term Care Partnership Policy with $250,000 of benefits. Their premium would be about $100 per month per spouse. If they used all $250,000 in the policy, they could apply for Medicaid and protect $250,000 of their savings from Medicaid.
If you want to protect more savings you can buy more benefits for a higher premium.
If you have less savings you can buy less benefits for a lower premium.
You can target how much coverage you want based upon how much of your savings you want to protect from Medicaid.
In every case a lifetime of savings can be protected through a Long-Term Care Partnership Policy.
The Long-Term Care Partnership Programs are the equitable solution to the crisis facing our nation. The wealthy pay more to protect more assets. The “not-so-wealthy” pay less and can still protect all of their assets.