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 http://www.ltcsolutions.net/mgr.html.

13 comments:

  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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