There are many ways to save money on a long term care insurance (LTCI) policy. One of the most common ways is what LTCI carriers call a Spousal Discount. This discount can range from 10% – 40%. The terms to qualify for this discount also vary by carrier but can be as simple as just being married or in a domestic partnership, even if the other doesn’t apply. Or, you can get a higher discount if both partners apply and are approved.
The carriers that we represent require that two people be married or live together for 1-3 years. Some carriers allow brother and sister and cousins to apply together for this discount. Carriers recognize same sex couples or heterosexual couples as eligible.
To learn what the specific discount would be for your scenario, we encourage you to speak to one of our consumer specialists today.