Annuities can be part of a Hybrid Long Term Care Plan. Give us a call to find out if this option is right for you.
Traditional LTC Policies vs. Hybrid LTC Policy
Traditional LTC Policies: Paying an annual premium to have access to a Pool of Money to pay for your care in the future. Insurance carriers include Mutual of Omaha, Transamerica, National Guardian Life and Thrivent.
- Lower Annual Premiums with greater leverage of LTC Benefits.
- Discounts available for couples and joint policies.
- Lifetime premiums are subject to future rate increases. Single Pay and Low-Pay options are available with some of the “traditional” carriers.
- Discounts may also be available for members of alumni associations and professional organizations.
Additional Options: Shared LTC Benefit, Return of Premium, Joint Waiver of Premium, Survivorship.
Hybrid LTC Policy: Buying a life or annuity policy combined with LTC Benefits if you need care, death benefits if you don’t and cash surrender value if you change your mind in the future. Insurance carriers include Lincoln Financial, OneAmerica, Securian Financial and Nationwide.
- Flexible premium options are available: Single Pay, 10-20 Pay, Pay to age 65, 95 & 100.
- Premiums are guaranteed never to increase.
- Funding Sources can vary.
Reposition Assets: Older annuities to reduce future tax consequences, non-qualified 1035 exchanges, RMD management, wealth transfer.