The long term care policy you have may have different provisions than others. There are multiple types of long term care contracts. However, a popular plan for a husband and wife will give the spouse free coverage for life after a period of time if the primary or husband dies. There are some policies with a beneficiary provision as well. Most long term care policies however just expire when the insureds die. This is part of the risk of owning a long term care policy. Statistically, there is a really good chance, especially females, that you will have a claim before you pass.
Many people balk at the idea of paying for coverage they may never use. Long term care premiums can be very expensive, so this is a common objection and concern. You may want to consider a return of premium rider. You pay extra for the option, but it addresses the concern you raise. If you do not need long term care, the policy will return a portion of your premiums. Most carriers provide this optional rider, which all work differently.
Contact an experienced agent who works primarily with this type of policy for help guiding you through the options.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
What happens to long term care insurance if not used? Well, what happens depends on the policy provisions. The policy may do many things from transfer to another person, pay out a small death benefit or absolutely nothing at all. This is why the details of choosing a policy are important. The details of a LTC plan are very important, more so than price.
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Contact an experienced agent who works primarily with this type of policy for help guiding you through the options.