Along with traditional LTCi we sell products that link LTCi to life insurance (referred to as hybrid policies). Below are the primary pros and cons of hybrid contracts:
Below we compare a hybrid product (LTCi + life insurance) to traditional LTCi (each with the same LTCi coverage) for a couple, both age 55. We did not include inflation protection because most hybrid policies are sold without it.
|Hybrid LTCi/Life||Traditional LTCi|
|Type||One Life/LTCi joint contract||Individual LTCi with shared benefits|
|LTCi benefit||$10,000/month each||$10,000/month each|
|Elimination period||60 days||60 days|
|LTCi benefit period||4 years total||4 years total|
|Premium guarantee||Premium is guaranteed not to go up||No premium guarantee|
|Death benefit||$200K second-to-die death benefit less LTCi claims||No death benefit|
|Total annual premium||$7185||$3653|
We begin phone consultations by learning about your situation. Then we discuss details of traditional LTCi and hybrid options with a focus on which type of contract is the best match for your specific situation.
Because hybrid products combine multiple coverages in a single policy, these products are more difficult to compare than traditional LTCi policies. For these reasons we are unable to show sample pricing on this website.
For specific pricing and additional information on hybrid products, please contact an advisor to schedule a phone consultation.