If you are playing the odds whenit comes to long-term care insurance, who do you bet on if you can only affordcoverage for one spouse?
ElderLawAnswers.com recently took up this topic and weighed in onthis question: â€œWhich Spouse Should Get Long-Term CareInsurance Coverage?â€ In brief, women tend to live longer and thereforerequire more care. While it is far from a sure thing, a married couple might bebest served by providing long-term care insurance for the wife who also is mostlikely to be the surviving spouse.
Granted, the facts of relativelongevity are quite familiar to insurance companies these days and women oftenrequire higher premiums, so the cost-benefit analysis begins. Then again, manymore companies are working to offer coverage options to work for both spouses.
You can find a great deal ofoptions, if you just look around the market. On the other hand, statistics do speak volumes.