News Resources for Seniors

Hybrid life insurance, annuities and long term care insurance plans gain in popularity

Tweet

According to the Palm Beach Daily News, a number of newer, more flexible life insurance and annuities plans are designed to meet the concerns of today's aging adults, who face slightly different concerns and challenges than do previous generations.

As life expectancy for the average American continues to rise, more people face the financial strain posed by the need for assisted living, nursing homes and in-home care. With these concerns in mind, some insurance and annuities providers are making their offerings more flexible.

Peter Bono, a Palm Beach insurance broker, told the source that annuities with long-term care options are popular among subscribers whose annuities experienced large taxable gains because with a hybrid policy, these gains can be transferred to a tax-free long term care insurance section of a hybrid plan.

Some long-term care hybrid life insurance policies offer long-term care benefits that pay out for a specific, age determined term. When a policy holder dies, the remaining funds go to beneficiaries. Other hybrid options help people with pre-existing conditions get coverage because certain investments are dedicated exclusively to long-term care.

According to the Family Caregiver Alliance, Americans 65 and older have a 68 percent chance of developing a form of cognitive disability as they age. 

A few of the carriers we quote

For assistance call 1-800-823-4852 7am–6pm M–Th, 8am–5pm Friday (Pacific time).
Copyright © 2002-2012 Pinney Wholesale Insurance Services - All rights reserved. 2266 Lava Ridge Court, Roseville CA 95661.

R. Jan Pinney CLU, ChFC, is a licensed life insurance agent in all states and the District of Columbia. The following agent license numbers are provided for R. Jan Pinney as required by state law: CA agent #0440057, LA agent #291116, MA agent #1674866, MN agent #20270113, UT agent #58330, agent R. Jan Pinney, DBA Pinney Wholesale Insurance Services. Commercial use by others is prohibited by law. This site provides term quotes. Each rate shown is a quote based on information provided by the carrier. No portion of WholesaleInsurance.net may be copied, published, faxed, mailed or distributed in any manner for any purpose without prior written authorization of the owner.