Friday, May 4, 2012

Hybrid/Single Premium Long-Term Care Insurance Products, Who Should Buy Them?

If you have heard of a hybrid/single premium long-term care insurance product you have probably wondered if you would be a good candidate to purchase this type of policy versus a traditional LTC insurance product.

The typical buyer for a single premium LTC insurance policy is someone who is close to retirement or who actually is retired. This person will understand the need to have a financial plan for retirement and they realize that they should have protection for their finances should a chronic illness arise. Most people who purchase a single premium policy have invested assets of $300,000 or more and are self-insuring the risk of needing care. These people do realize the risk of needing long-term care is high but they are not exactly sure how much their care will cost, so they consider a hybrid LTC product as a solution.

A hybrid/single premium long-term care insurance policy will help cover the cost of long term care services, help protect beneficiaries with an income tax-free death benefit and it frees up assets.

Most of these plans are very customizable and can provide certain guarantees. To learn more about hybrid policies. Visit


  1. My parents are about to retire so I guess this post is going to be interesting for them and their friends to read; especially considering that fact that they are interested in changing their insurance provider for some reason. I am not sure that they are going to be interested in this hybrid policy, but they might be of course. As far as I see, this service might be quite expensive. They can of course apply for cash advance loans even though I am not sure they will want to get themselves involved with some kind of a borrowing service. Thanx anyways.

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