Combination Life and Long Term Care Insurance with Lifetime Benefits for a Couple

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Combination Life and Long Term Care Insurance with Lifetime Benefits for a Couple

By Aaron Skloff, AIF, CFA, MBA

Combination (Combo or Hybrid or Linked Benefits or Asset Based) Life and Long Term Care (LTC) Insurance policies provide long term care benefits if you need long term care or a death benefit if you die without needing long term care; or both. Combination Life and Long Term Care Insurance policies provide guaranteed benefits with guaranteed rates (your rates can never be increased).

Let’s look at an example of a 55 year old tobacco free female and a 55 year old tobacco free male.  With a combined guaranteed $100,000 one time premium, they gain a $153,486 tax free second to die death benefit or a $6,140 monthly tax free long term care benefit each they can use separately or simultaneously for each person’s entire lifetime.

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