Is Long Term Care Insurance Important if I’m over 50 and Getting a Divorce?

by Dina Mabry and Stefanie Abbott of BGA Premier Insurance and Lisa Zonder of ZFLG

Long Term Care Insurance for Adults 50+

Divorce has financial consequences for everyone, no matter what your age. But for those 50 and up, there are circumstances which make divorce more complicated and potentially more costly.

The term “Gray Divorce” was coined by the AARP to describe adults aged 50 and over who are going through a separation. Usually, these couples have been married for at least 20 years and may have a significant amount of marital assets to divide.

Women and the Need for Long Term Care Insurance

Divorce is challenging for both parties, but unfortunately, gray divorces often have more difficult outcomes for women rather than men.

For those over 50, it can be more difficult to rebuild financially because they may not have longevity in the workforce. It is possible one spouse has been out of the workforce for many years to care for children and he or she may not have the same earning potential.

58% of men and 79% of women aged 65 and older will need long term care at some point. When a couple divorces, there is a smaller pool of assets to potentially fund long term care expenses for each spouse.

If you are in the early stages of a divorce or already single, developing a proactive strategy with your family law attorney can make all the difference.

Long Term Care Insurance and Divorce

If you are currently in the process of divorce, it is possible to negotiate a Long Term Care insurance policy in the settlement.

While there is no requirement that the spouse who pays spousal support must also pay for a long term care insurance policy, the payee spouse may wish to use some of his or her support payment or individual share of the community estate to purchase an LTC policy.

Long term care insurance policy benefits can provide tax-free money for home health aides, care in facilities, as well as modifications to your home for health reasons. LTC monthly benefits provide peace of mind knowing that should a long-term care event happen, there will be tax-free dollars to assist with paying for your care.

The lack of long-term care planning can place a significant emotional and financial burden on individuals, as well as their children – regardless of their children’s age.

Most couples would agree that minimizing the impact of the divorce on their children is a priority, short and long term, which is among some of the many reasons why considerations for long-term care insurance and planning should be part of the divorce conversation.

Talk to a Professional about Long Term Care Insurance

If you do not already have long term care insurance, speak with your attorney about securing a policy.  If you do not have an independent insurance broker you trust, your attorney should be able to provide you with a few referrals.

Long term care insurance discussions should occur early in the divorce process, so premium costs can be considered in your monthly budget.

Depending upon the type of long term care insurance policy, it may be possible to purchase it in a defined period of time (such as a single pay or paying for 10 years).  This allows for the premium to be fully accounted for in the final settlement.


If you need Life/Long Term Care Insurance or Family Law advice, Dina Mabry and Stefanie Abbott of BGA Premier Insurance and Zonder Family Law Group are here to help.  Both BGA and ZFLG believe in a holistic approach to divorce and are committed to ensuring you have the right team of professionals navigating you through this time.

Please contact ZFLG at 805-777-7740 and BGA Premier Insurance at 818-836-5623 or for more information!




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