Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Should I get long term care insurance for my partner in Philadelphia?

Posted on Mon Dec 14, 2015, on LGBT Estate Planning

From our “Ask a Question” Mailbag: Philadelphia Long Term Care Plan for Partner

Most Recently Updated August 1, 2018.

“My partner is much older than I and I am worried about the costs of carrying for him in his old age. Would long term care Insurance be a good idea?”

Philadelphia Long Term Care Plan for Partner

Philadelphia Long Term Care Plan for Partner

We’ve all heard stories about how the expenses of a final illness can drain a lifetime of savings, leaving the survivor with little or nothing. Long term care Insurance can give you the comfort of knowing that a pool of funds exists to address unexpected costs, should your partner’s health fail. That being said, many people focus on that idea that Long Term Care Insurance is a good idea if it gets used, but ends up as wasted funds if you never need the help.

A better way of looking at this insurance is the same way you consider medical insurance. You might not use it, but if you need it, you really need it. (And if you end up never needing to use it, that just means you enjoyed a nice, long, healthy life!)

My Experience

In recent years, I’ve had many clients who died without using their long term care insurance benefits. But there have also been clients who would have otherwise been forced to leave their homes. In fact, according to government studies, as many as 8 percent of Americans may require some kind of long term care for serious illness before they reach the age of 50.

People who develop Alzheimer’s often benefit even more from this type of insurance. Typically, their own savings would not have covered the costs of necessary home alterations or of in-home care. In terms of making the best of a bad situation, I have seen some clients leverage their long term care benefits into placements in very nice memory care facilities—far more expensive than they would have been able to afford on their own.

My Suggestion

I suggest that your partner and you consult with your financial advisor about the available policies and your ability to self-insure should your partner fall ill. If your own funds are adequate for the potential projected expenses, then the need for the insurance is reduced, but if the projected expenses would drain the available funds, then obtaining the insurance becomes more important.

If you have questions about LGBT Estate Planning in New Jersey, feel free to contact our office for a free consultation.

More Planning Questions?

Philadelphia Long Term Care Plan for Partner is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: Philadelphia Long Term Care Plan for Partner

I hope that this article was helpful in explaining Philadelphia Long Term Care Plan for Partner. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!



Elder Care, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, LGBT Estate Planning, Pennsylvania, Philadelphia

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo

Anita R.

Peter came highly recommended by a close friend to do our estate planning. We have been putting off for years. He is knowledgeable, professional and easy to work with.

Klenk Law Logo


Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.

Klenk Law Logo

Brian M.

Peter explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.

Klenk Law Logo

Chantee C.

Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!

Klenk Law Logo

Tom Mettinger Sr.

Integrity, exceeding the client's expectations. In-depth knowledge of the law

Let us put our expertise to work for you.

Free consultation within 24 hours.