Hybrid long-term care plans are insurance policies that combine elements of both long-term care insurance and life insurance. These plans are designed to provide coverage for long-term care expenses, such as nursing home care or in-home care, as well as a death benefit in case the insured passes away before needing long-term care.

Unlike traditional long-term care insurance policies, hybrid plans offer the flexibility of a death benefit, which can provide financial support to the insured's beneficiaries. If long-term care is needed, the policy will typically pay out a certain amount of the death benefit to cover the cost of care, leaving the remaining death benefit for beneficiaries. If long-term care is not needed, the full death benefit will be paid out to beneficiaries upon the insured's death.

Accelerated Death Benefits & Critical Illness Riders

It is important to understand that many traditional life insurance policies (including term, whole and universal) simply offer what’s called an accelerated death benefit or critical illness rider. In the event the insured meets certain criteria, the policy will payout a portion of the death benefit to the insured while living.

These riders are not what our agency considers to be true hybrid life insurance as there are restrictions on how and when they pay. In other words, these types of life insurance plans are not coupled with tax-qualified long term care insurance and can be more restrictive.

We also offer life insurance policies with living benefits, but in our opinion these types are more life insurance than long term care. It depends on your long-term planning goals as to which one might be right for you. We can help you to understand both.

Contact Us For More Information and Quotes

We will help you compare policy benefits, riders and overall cost in order to find a hybrid LTC plan that best suit your needs. Contact us today to learn more.

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