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How do you address the issue when a couple is interested in Long-Term Care Insurance, but one is uninsurable? What options are there?

April 26, 2017address Couple Insurance ISSUE long-term Options uninsurable

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How do you address the issue when a couple is interested in Long-Term Care Insurance, but one is uninsurable? What options are there?

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There are underwritten annuities to maximize money for the care of the uninsurable spouse (see chapter 6 in my book “Alternatives to LTCI” – 2003 version just came out) and I’m sure CLTC taught you to refer them to an elder law attorney as well (www.naela.org). But also a reverse mortgage could be a backup to provide an income stream to pay for care for the uninsurable spouse – I updated that section as well in chapter 6. Mainly, they especially need the insurance on the healthy one so that one is taken care of.