Hybrid Long-Term Care/Life Insurance
Long-Term Care Protection with Guaranteed Value
Hybrid long-term care/life policies and single-pay LTC policies offer a simple, efficient way to plan for future care needs while protecting the people and assets that matter most. Each option provides long-term care benefits if you need care, and a death benefit for your loved ones if you don’t.
Frequently Asked Questions
Do I lose my money if I never need care?
No. If the care benefit goes unused, your policy’s value passes to your beneficiaries as a death benefit.
How do these policies work?
The policies provide a guaranteed pool of benefits for qualified long-term care expenses, including home care, assisted living, or nursing facility services. Because unused benefits pass on rather than disappear, these policies also help preserve other assets, like retirement savings or a home.
Do I have options in funding my coverage?
Yes. You can either pay your entire premium up front (a single-pay policy), which means there’s no ongoing premiums to manage. This option is often used to reposition low-yield assets, such as CDs or idle cash. Or, you can pay traditionally by spreading your premium payments over many years.
Who are these policies designed for?
People who dislike “use it or lose it” insurance and want predictable, flexible, multi-purpose protection.
Are there tax advantages?
Unused benefits generally pass to beneficiaries as a tax-free death benefit. Because everyone’s situation is unique, it’s best to discuss this with your tax professional.
Can premiums increase?
Premiums for these policies are typically guaranteed for life and cannot increase.
How much does a single-premium policy require to get started?
It depends on your age, health, and the amount of protection you want. A conversation with us is the best way to get a number specific to you.
What if I change my mind after purchasing the policy?
Many policies offer cash value or return-of-premium options. We can walk you through the choices available.
When should I purchase coverage?
The sooner, the better. Coverage is more affordable when you’re younger and in good health, and purchasing early helps protect against becoming ineligible later.
How do I get more information or a quote?
Call 423.629.2400, email info@tbainsurance.com, or complete the webform below.