Ask Bob: Will a Partnership Long-Term Care Policy Protect Assets?

Robert Powell

Question: What are the pros and cons of using a partnership long-term care (LTC) insurance policy versus a standard LTC insurance policy? If my wife and I have $1.5 million in assets ($1 million in my retirement accounts and $500,000 in my wife's retirement accounts) that we would like to protect, would it make sense to use the partnership plan? And, if so, how it would protect those assets? Would we buy two single policies or a joint policy?

Answer: A long-term care partnership policy is always better than a "standard" policy because it protects your assets from Medicaid spend-down and Medicaid estate recovery even if your policy runs out of benefits, says Scott Olson, the co-founder of

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