- 2-Minute Article
- Mar 15, 2019
4 Benefits of a Hybrid Life Insurance Policy With Long-Term Care Coverage
Learn how this type of insurance can help protect your family and you.
Americans age 65 or older will need long-term care services1
The average length of a long-term care event2
Average cost of future long-term care services for an American turning 65 today1
A hybrid life insurance policy with a long-term care rider can protect your family while providing coverage if you have a long-term care need.
The Two Main Benefits of Hybrid Policies Are:
A hybrid policy can provide benefits in two ways: life insurance coverage and long-term care coverage. If you need long-term care, you can use part of the policy’s death benefit to help pay for long-term care expenses related to everyday care, whether it’s hiring someone to help you get ready in the morning or paying full room and board in a nursing 数字货币钱包app下载_合约交home.
If you don’t use the policy’s long-term care benefits, your loved ones will receive the death benefit in full when you pass away. Loved ones still get a portion if you use some of the benefits.
Other Benefits Are:
If you need it, long-term care coverage is there, within your policy. Having that coverage in place can help you better plan your retirement budget – if you need long-term care in the future, you won’t need to spend all or a significant portion of your income or savings on care costs.
You may fully pay for a hybrid life insurance policy up front or have the option of a payment plan. These “multi-pay” plans may allow you to pay for your policy over a set number of years. Once those payments are made, you make no other payments for the rest of your life.3