Exploring Joint Life Long Term Care Insurance with OneAmerica

Joint life long term care insurance from OneAmerica is so unique, it has received a United States patent!1 The policy is so unique in that it allows for us to cover TWO people under a SINGLE policy! Join us as we take a deeper dive below into the specifics of this innovative product from OneAmerica. Make sure to take a look at our example at the end of this post that shows a hypothetical husband and wife, and the benefits that they gain by doing their policy as one, rather than two individual policies. 


What is it?

A joint life policy provides one pool of money to cover two people if a need for LTC arises. This shared benefit ypically costs less than purchasing two individual policies. Joint protection can be a great fit for spouses, siblings, and even business partners. We have some great ideas for parents and children that works wonders, and lowers costs!

How does it work?

Joint life Asset-Care is medically underwritten, meaning both proposed insureds must apply and be accepted for protection. The amount of protection available is based on a number of factors, including the Joint Equal Age2, which is calculated by the company using both ages, genders, and underwriting classes.

What happens?

If there is a need for LTC:

Each insured has access to the full death benefit, up to the monthly benefit limit for LTC expenses.

If a need for LTC arises for both insureds simultaneously:

Each are eligible for their own monthly benefit limit. This means that the full death benefit is still available, but for a shorter period of time.

When one person dies:

The other insured still has access to the pool of money if a need for LTC arises, and can leave a death benefit if care isn’t needed or fully used.

Why do I want Joint LIfe Asset-Care?

Reduced cost/larger benefit pool: Spreading the risk over two lives instead of just one may reduce the cost and provide a larger pool of shraed benefits compared to two individual policies

Possible lifetime coverage for both: If the COB rider is selected, it applies to both insureds for one premium rate, locked in at the time of purchaes. Premieiums are guaratneed never to increase, even upon the death of the first insured.

Simplicity: A joint policy reduces the amount of paperwork that may be associated with two individual policies: one policy, one bill, one annual statement.

Contact us today to have one of our advisors reach out to you to start planning your future! 


1. US Patent Number 6,584,446 2. This age difference may be narrowed due to results of medical underwriting