Hybrid Long Term Care Annuity

Hybrid long term care annuities provide long term care insurance if you need care and cash value to your estate if care is not needed.

Hybrid long term care annuity.

They provide leveraged payouts for long term care expenses like traditional ltci policies but also offer the advantages of a fixed annuity policy. Hybrid long term care insurance policies typically are funded with a single upfront premium and offer the benefits associated with the life annuity policy base together with additional benefits of long term care coverage. A long term care annuity will typically double or triple your investment for long term care benefits. These long term care combination policies avoid the high cost of ongoing annual long term care insurance premiums associated with traditional ltc insurance policies.

A person can buy a hybrid policy by paying a one time lump sum premium. Beginning in 2010 the irs will let those who hold one of these deferred annuities. Pay over 5 or 10 years. This can provide an annuitant with tremendous leverage of their premium dollars.

Long term care annuities and life insurance with long term care benefits are growing in popularity as viable alternatives to long term care insurance. Long term care annuity benefits are a pool of money. For example a 100 000 investment in an ltc annuity would provide to 200 000 or 300 000 of long term care benefits. We offer hybrid long term care annuity accounts from several insurance carriers.

Simply put a hybrid long term care policy combines the benefits of life insurance or annuity with long term care benefits. These hybrid policies work variously but the type that has gotten the most attention is a long term care annuity.