Hancock LTC rider allows spouses to share benefits. (John Hancock Financial Services; long-term care)

National Underwriter Life & Health-Financial Services Edition, October, 1995 by Koco, Linda

A new rider developed by John Hancock Financial Services gives an individual access to benefits available under a spouse's long-term care (LTC) policy, if that individual's LTC benefits are exhausted. Under Hancock's SharedCare plan, each spouse, in order to gain access to shared benefits, must buy an LTC policy and a SharedCare rider. Details of the plan are provided.

John Hancock Financial Services, Boston, has come up with a rider that allows couples to share benefits in one another's LTC policies.

Called SharedCare, it permits each spouse to use the benefit from the other's Hancock LTC, if his or her own benefits are exhausted.

The approach is somewhat like that used in a joint first-to-die life insurance policy, in that two lives share benefits, says...

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