We’re finding some people prefer some of the advantages of going the “hybrid” route for their long-term care coverage. I work with highly experienced professionals who understand the “Hybrid” market inside and out.

Our hybrid clients typically:

Want a guarantee there will be NO rate increases to their premium, ever.

Are very comfortable financially and are tempted to even just self-insure the risk, but realize having insurance in place may be prudent.

Are people who have $100-150K in an easy-access fund like money market, CD, etc. – as “rainy day” money.

Like to know they are going to use this insurance. With Hybrid, there’s a death benefit (life insurance) or the option to use the death benefit for long-term care costs instead. Hybrids work very similarly to “stand-alone” LTC products at claim time.

May have income tax sensitivity. Benefits are income tax free.

May have more serious health issues preventing the stand-alone companies from issuing them a policy. (We can often find a hybrid company may accept some health histories that are not acceptable by stand-alone companies.)

Other advantages of some Hybrid LTC products:

One of our carriers still offers UNLIMITED lifetime coverage for LTC

Though monies are re-allocated, it remains YOUR money under your control. So the money will be used either for long-term care costs, or for a death benefit (life insurance) or you can pull out your money later.