LAKEVILLE, CT — Hybrid long-term care insurance plans now come in a variety of flavors. Certainly the most popular ones guarantee that if long-term care benefits are never used 100% of the premium outlay will be returned to the owner- or their beneficiaries. Thus, if benefits are never used, you do not lose (the premium). In addition premiums AND benefits are totally guaranteed; the insurance company assumes all risk. This is not the case with traditional long-term care insurance where premiums are not guaranteed.

In exchange for a premium a tax free death benefit is paid to beneficiaries, and will always at least equal the premium payment if care benefits are not used.. A cash surrender value is also available usually equal to 100% or 80% of the premium outlay. The single premium outlay funds a significantly larger pool of long-term care benefits. This premium to benefit leverage is often 4-10X of the premium paid.

Initially owners would “vote” once with a single guaranteed premium payment which would pay up the program. No additional premium payments were necessary. This single premium approach is still a very popular payment option.

But to address the concerns of many who want to fund the plan over time now 10 pay premium payments and premiums paid to age 65 options are available. With this funding flexibility insured’s can now “vote once or vote often” depending upon what funding arrangement best meets their needs.

To compare , without obligation, different “voting” options available to you call me at 1.888.793.6111 or contact me at helpme@retirementguard.com. If you GOOGLE RetirementGuard you will see that we make these options available to many of our Ivy League clients who wholeheartedly endorse us, and our methodologies, for their employees. I use a consultative approach to help our customers make informed decisions.

For details and quotes call RetirementGuard at 1.888.793.6111 or email helpme@retirementguard.com