A trend is sweeping through America for older Americans who are getting married later in life that there future spouse get long term care insurance before they take a walk down the aisle. Marketwatch reports that:
“Prenuptial agreements are popular with brides of a certain age (40-plus), who often have accumulated assets, careers, and lifestyles they want to protect. Now there’s a new prenup wrinkle, a clause specifying that hubby-to-be get a long term care insurance policy before walking down the aisle.”
According to the U.S. National Center for Health Statistics, there were 2.2 million marriages in 2007, and the number is expected to increase in 2008 and beyond. As more and more people see parents and family members exhaust their life’s savings because of a lack of long term care insurance, couples before they are getting married are making each other purchase a long term care insurance policy.
Who wants to play nurse for a loved one if it can be prevented cost effectively, so as each year passes more and more people are buying long term care insurance for themselves and their spouse. Keep in mind that once you are married you will be eligible for the spousal discount which can save you up to 40% off the annual premium.
