Hybrid Long Term Care Insurance – Life Insurance with Long Term Care
Life Insurance with Long Term Care Hybrids
This type of LTC protection combines life insurance with a long term care rider. These policies have grown in popularity in recent years. And the best long term care life insurance hybrids having gained significant market share.
Linked benefit long term care plans are the same as long term care hybrid products. The term linked benefit refers to a long term care insurance rider linked to a life insurance policy. This linked benefit long term care insurance joins a whole life or universal life policy with long term care insurance.
You can fund a long term care life insurance policy with either a single premium payment or over time. Like traditional life insurance, the death benefit transfers assets to your heirs. Or, the death benefit can accelerate to cover your long term care needs.
Asset Based Long Term Care Plans
Asset based long term care plans is another term for this type of LTC protection. Here are some ways that life insurance with long term care differs from traditional long-term care insurance:
- Premiums invested are not lost if you do not use the insurance.
- Asset based long term care life insurance protects your assets from long term care costs. The added benefit is that it can transfer assets tax free to your heirs.
- Health underwriting varies by company. It may be more or less restrictive than a traditional long term care insurance policy.
Life Insurance with Long Term Care Advantages
Estate Planning Benefits – Life insurance has many uses in estate planning. Including: Estate liquidity to pay taxes, debt repayment, income replacement and wealth accumulation. Because a hybrid life insurance long term care policy is built on a life insurance policy, any unused policy value passes tax-free to the named beneficiaries.
Guaranteed level premiums can be an advantage of asset based long term care plans. The premium payment can be in the form of a Single Premium or spread out over several years. Guaranteed level premiums are generally not available with traditional long term care insurance. Knowing that premiums can never change allows clients to avoid unexpected premium increases.
The Best Long Term Care Life Insurance Companies
One Stop Shopping
We shop the leading long term care life insurance companies to help you find the best rate and company. We’ll supply you with rates, ratings, and reviews of the companies that sell these types of policies. Click Here To Get LTC Life Insurance Quotes.
Here is a list of preferred Long Term Care Life Insurance companies:
Nationwide Life Insurance Company
The Nationwide Life Insurance Company is a strong and stable company. They’ve been in business over 90 years. Nationwide is a Fortune 100 company with $26 billion in operating revenue as of 2015. They have high ratings and rankings from the major ratings agencies. When you do business with Nationwide, you can have confidence that they’ll stand behind their promises.
Nationwide Life Insurance Company Ratings
A.M. Best | A+ (Superior)
Standard & Poor’s | A+ (Strong)
John Hancock Life Insurance Company
With over 150 years of experience, John Hancock insurance has strength and stability. They have strong financial ratings from the major rating agencies. These strong financial ratings reflect John Hancock’s ability to pay future claims.
John Hancock Life Insurance Company Ratings
A.M. Best | A+ (Superior)
Standard & Poor’s | AA- (Very Strong)
Lincoln Financial Group
Lincoln Financial Group was founded in 1905 with the endorsement of Abraham Lincoln’s son. Lincoln Financial Group is the first and only company to carry Abraham Lincoln’s name, image and ideals at the heart of their brand. They’re dedicated to helping Americans secure better futures for themselves and their loved ones. Contact us for Lincoln Financial Group quotes.
Lincoln Financial Group Ratings
A.M. Best | A+ (Superior)
Standard & Poor’s | AA- (Very Strong)
Securian Financial Group
Securian Financial and its member companies, Minnesota Life, and Securian Life, receive high ratings from independent rating agencies. These ratings reflect their stability, integrity, long-term focus and commitment to maintaining a strong balance sheet.
Securian Financial Group Ratings
A.M. Best | A+ (Superior)
Standard & Poor’s | A+ (Strong)
State Life Insurance Company
The State Life Insurance Company is a One America Company. For 140 years, millions of Americans have trusted OneAmerica to protect them. State Life Insurance and the OneAmerica companies keep their promises to customers by maintaining their financial strength. They believe in putting your long-term financial security ahead of their short-term profits. This is shown by their guiding values of integrity and stewardship.
State Life Insurance Company Ratings
A.M. Best | A+ (Superior)
Standard & Poor’s | AA- (Very Strong)