From Traditional To Hybrid Long-Term Care Solutions

long-term care

Out with the old, in with the new.

I know it isn’t New Year’s but it’s time to discuss a new way to plan for long-term care. And it’s definitely out with the old way. I mean, paying an insurance premium for decades, on a policy that if you end up not using it you lose every penny you paid into it just doesn’t make sense anymore.

And to make matters worse, if you decide you want a traditional long-term care policy and you’re 65 or older, you have to be in tip-top shape to even qualify. And chances of actually getting the benefits when you need them are pretty slim with all the rules surrounding these old-style policies.

Today there are some newly developed hybrid or linked-benefit policies to explore as options.

One solution that’s growing increasingly popular is a form of life insurance that includes tax-qualified long-term care riders. With these policies, the owner is able to access the majority of the death benefit if long-term care services are needed. And, in the event long-term care services are not needed or if all of the death benefit is not used up to pay for long-term care expenditures, the remaining death benefit is paid out to the beneficiaries upon the death of the policy owner.

Another benefit is that these hybrid policies can be sold to older people even if they have health difficulties and can’t afford traditional long-term care policies. Another feature that is a welcome relief is that these hybrid policies usually feature fixed premiums and have different coverage options.

If you hold a traditional long-term care insurance policy and are ready to explore if it is in your best interest to break with tradition, give Red Feather Financial a call. We only work with highly-rated insurance companies offering the best of the new hybrid solutions for long-term care.


Investment Advice offered through William Joseph Capital Management, LLC, a registered investment advisory firm headquartered in the State of CT and registered in CT, NC, GA, TX, and FL. Additional services offered through non-affiliated companies. | Lower fees for comparable services may be available from other sources. | PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE OR RESULTS | NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE |NOT A SOLICITATION TO BUY OR SELL ANY SPECIFIC INVESTMENT, STRATEGY, OR SECURITIES. 
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Investment Advice offered through William Joseph Capital Management, LLC, a registered investment advisory firm headquartered in the State of CT and registered in CT, NC, GA, TX, and FL. Additional services offered through non-affiliated companies. | Lower fees for comparable services may be available from other sources. | PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE OR RESULTS | NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE |NOT A SOLICITATION TO BUY OR SELL ANY SPECIFIC INVESTMENT, STRATEGY, OR SECURITIES.