Broker Check

A Smarter Way, Hybrid Long Term Care Insurance

| September 12, 2018

Long term care insurance has long protected against the chance that the devastating costs of long term care will deplete a family’s savings, and has prevented many from being forced into life-changing, unwanted living situations. 


Unfortunately, traditional long term care insurance can be expensive.  Many companies have implemented continuing premium increases and decreasingly attractive coverage.  More often, people are considering taking the chance of self-insuring  forlong term care – a risky proposition, since according to the U.S. Department of Health and Human Services,  70% of people turning age 65 can expect to use some form of long term care during their lives. 


Enter the hybrid long-term care insurance policy:  a combination of life and long term care insurance that offers a number of advantages:


  • Life insurance death benefit can be advanced for long term care.
  • The remaining death benefit goes to your designated beneficiary.
  • There are no premium increases.
  • Continuation of benefits exceeding the death benefit – even for a lifetime – is offered.
  • Premiums can be made in a single payment, over a specific number of years, or a lifetime.
  • Health underwriting for life insurance is different than for long term care insurance.


Hybrid long-term care insurance is a smarter alternative to self-insuring.  Be sure to take a look at all of your options when making this important decision for you or your family’s long term care.  It is unlikely that one type of insurance, or one insurance company, offers the best solution for every person’s situation.  Give us a call at 256-417-4870 if you would like more information.



Laura Mickels has spent more than 30 years working for investors with both Wall Street and independent firms.  CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement, and works with multiple insurance companies to deliver the best long term care solution for each family’s situation.



Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc, a Registered Investment Advisor.  CochranMickels and Cambridge are not affiliated.