AppleCare+ when iPhone is reset and given to another person

I have just signed up for monthly AppleCare+ after the two year coverage came to an end. I’ve upgraded to the new iPhone, but my wife will get my old phone - the one for which I have set up AppleCare+.

I will be factory resetting the phone and giving it to her for her Apple ID login etc. Can anyone help me understand whether she will receive the AppleCare+ on this device, despite the subscription being setup on my Apple ID?

thanks in advance for your help.