Hybrid Long Term Care Annuity

These hybrid policies work variously but the type that has gotten the most attention is a long term care annuity.

Hybrid long term care annuity.

A hybrid annuity for long term care hybrid annuity accounts are part long term care policy and part annuity. Long term care annuities and life insurance with long term care benefits are growing in popularity as viable alternatives to long term care insurance. Pay over 5 or 10 years. We offer hybrid long term care annuity accounts from several insurance carriers.

Long term care annuity benefits are a pool of money. They provide leveraged payouts for long term care expenses like traditional ltci policies but also offer the advantages of a fixed annuity policy. Beginning in 2010 the irs will let those who hold one of these deferred annuities. A person can buy a hybrid policy by paying a one time lump sum premium.

This can provide an annuitant with tremendous leverage of their premium dollars. For example a 100 000 investment in an ltc annuity would provide to 200 000 or 300 000 of long term care benefits. Simply put a hybrid long term care policy combines the benefits of life insurance or annuity with long term care benefits. Long term care annuities are considered to be a type of asset based long term care or otherwise referred to a hybrid policy.

These long term care combination policies avoid the high cost of ongoing annual long term care insurance premiums associated with traditional ltc insurance policies. A long term care annuity will typically double or triple your investment for long term care benefits.