I thought it was worth sharing this article from the NAELA News magazine on the topic of “Hybrid” Insurance policies. A Hybrid policy is a combination of life insurance and long-term care insurance, that is one of many tools that can work in planning for long term care costs. We do not sell insurance, nor are we equipped to recommend one policy over another. However, one of the initial suggestions I make to clients is to have them get in touch with a professional that is qualified to analyze their insurance needs and suggest a policy.
Like any planning tool, for a variety of reasons, long term care insurance, or hybrid policies aren’t a good fit for everyone. Insurance is merely a piece to the complicated puzzle that is long term care planning.