Flexible protection for quality of life care.
Hybrid Asset-Based Long Term Care Insurance
Hybrid policies were created in order to give people a cost-effective way of covering themselves for long term care expenses. Additional planning options for you to consider are "linking" your long term care benefits to additional insurance benefits such as a paid-up life insurance policy or an annuity.*
Unlike traditional policies that have a small premium "pay-as-you-go" approach, hybrid linked benefit insurance policies usually are funded with a one-time single premium up-front such as $50,000 or $100,000, or large annual installments over a certain period of years. Similarly, many hybrid policies also provide you the ability to elect your long term care insurance benefits at the outset.
The appeal of hybrid long term care life insurance policies is that you are guaranteed to receive your premium back should you never need to receive long term care. Also the premiums for these type policies are fixed, and are guaranteed to never be increased.
Hybrid long term care policies will:
- pay for your costs should you receive care
- provide your estate a tax-free life insurance benefit should you not need care
- offer you a 100% money-back guarantee should you change your mind
Hybrid insurance policies may be worthwhile for you to consider if you have liquid assets generally not needed for retirement income that can be easily re-positioned.* Hybrid policies do not offer State Long Term Care Partnership protection. If the cost associated with a hybrid long term care policy seem to high or if you with to find a policy which participates in the State of Georgia Long Term Care Partnership, a traditional policy may be more suitable. To learn more about traditional long term care policies click the highlighted product link: Traditional Long Term Care Insurance
As an independent agency, LionCrest Insurance Advisors has access to several carriers which will allow us to provide you with unbiased options to structure the best solution for your specific long-term care insurance need. We will discuss: the costs of various types of care, which type of policy is more appropriate, the estimated cost of a customized policy and all respective options, as well as whether full or partial coverage is needed.
Determining the type of policy and amount of long term care insurance coverage you need does not have to be difficult. Let LionCrest Insurance Advisors independent expertise and client-focus help determine your best solutions for Life. Contact us today for a consultation and free quote, or for faster service complete the quote form for Long Term Care Insurance which can be accessed by clicking the quote form link: Long Term Care Quote Form
*LionCrest Insurance Advisors, LLC and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.