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When a Genworth agent calls on a AARP referral, they compare the "AARP" plan with a Genworth plan and sell up, once folks understand the differences they usually buy up.
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Maybe I missed something, but it is my understanding that Partnership plans only protect the insured from Medicaid up to the policy protection of the LTC plan. At least that's the way it works in Kansas.
The example given me was: If you had a $200K estate, and you had to "spend down" to qualify for Medicaid, and you had $100K LTC policy, then when you spent down to $100K, that was yours to keep. At that point, you were Medicaid qualified with $100K of asset protection. Anything you had to spend out of that remaining $100K for healthcare was returned to your account.
Indiana is one of the original Partnership states and designed their own program which is quite different from the other states. It offers UNLIMITED asset protection if you purchase a partnership qualified policy over $225,000 of coverage.
You folks in Indiana corn country are wealthier than us poor Kansas wheat farmers!![]()