More and more frequently, partnership is becoming a popular topic among advisors. Some advisors are adamant about writing policies with partnership, while other advisors don’t see value in offering the program to their clients at all.
Determining whether clients require a partnership program is an individualized decision. It makes sense for some and does not for others.
Advisors who favor partnership tend to represent clients who have substantial assets to protect, but don’t want to pay the higher premiums for lifetime or unlimited benefits. In cases like these, partnership gives them peace of mind in knowing that if they use up their benefits, they won’t have to sell down their entire estate in order to receive benefits from Medicaid. Clients like the fact that, in many cases, they don’t have to pay extra for this protection and they feel more comfortable with these state-sanctioned plans.