Hybrid Life and Long Term Care Insurance with Lifetime Benefits for a Couple
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Hybrid Life and Long Term Care Insurance with Lifetime Benefits for a Couple
By Aaron Skloff, AIF, CFA, MBA
Hybrid 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. Hybrid 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 $127,852 tax free second to die death benefit or a $5,114 monthly tax free long term care benefit each they can use separately or simultaneously for each person’s entire lifetime.
