Hybrid policies for long-term-care policies are increasing in popularity, while traditional policies are on the decline. These hybrid plans help with care needs while also providing additional benefits. Hybrid plans allow the policy holder’s heir’s to get partial refunds on the unused coverage. However, hybrid policies often have higher premiums than traditional plans. The take away is that hybrid plans can offer some benefits over traditional policies, but have drawbacks, and should be researched and considered thoroughly.
See Anne Tergesen, ‘Hybrid’ Long-Term-Care Policies, The Wall Street Journal, May 4, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
