Morningstar: Hybrid Policies Can Have Significant Drawbacks
The high cost of Long Term Care is an expense that nearly 1 in 2 people will encounter sometime during their lifetime. Given the high odds and family experiences of many baby boomers, there is tremendous interest in Long Term Care Insurance. In the past several years, insurance companies have rushed out products called “hybrids” that mix long term care benefit payments with life insurance or annuity options. The result is a guaranteed premium, often made upfront, and usually return of premium if the policy is unused. The initial appeal of this approach is obvious.
This week, morning star digs in[…]
Reviews of each company’s financial stability ratings, claims experience, and size.
A side-by-side comparison of each company’s policy features. We cover the similarities and the differences.
Price comparisons customized to suit your specific needs from top carriers such as Nationwide, Thrivent, New York Life, National Guardian Life, Mutual of Omaha, and more.