Serving Ohio and other states
Living a long life is a near certainty,
planning for it is a necessity.
Many people are concerned that a long-term care insurance policy provides them no benefit unless they are in need of long-term care. A hybrid policy allows you to put up a certain amount of your estate in case you end up needing long-term care.
If you don’t want to write premium checks for a policy you may never need, a hybrid policy will help. It allows you to put part of the policy into an annuity contract or a single premium life insurance contract that will pay out for long-term care if you need it. Hybrid policies are a better way to insure yourself if you don't want to buy a long-term care policy.
Hybrid policies can also be offered as an annual or monthly premium product instead of a single premium and can use qualified or non- qualified funds for the plan.
David A. LaRue, JD, CLTC was licensed in 1987 and started working in elder law in 1996.
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