Halley Dodson, LLC Halley Dodson, LLC

Hybrid & Linked Plans

Linked & Hybrid Policies

A Linked Benefits policy is a unique life insurance product that allows you to protect your assets from a potential long term care (LTC) event and leave a legacy to your loved ones without having to purchase two separate policies. By paying an initial lump sum premium, you immediately create a death benefit for your beneficiaries and a pool of money to pay for covered long term care needs.

A Linked Benefits policy provides you with:

  • A guaranteed death benefit that is generally income tax free – your beneficiaries will receive a death benefit whether you use none, some or all of your LTC benefits
  • Value for your money – typically, your death and LTC benefits are significantly greater than your initial premium
  • Flexibility – no matter what happens in your life, you will have a guaranteed level of benefits

Linked Benefits can give you a sense of security about your financial future.

A Hybrid Policy features an ongoing annual premium and provides a level insurance amount that can be used as Life Insurance or to pay for Long Term Care expenses. A $250,000 Hybrid Life Policy could provide a $5,000 per month LTC benefit for 50 months of long term care.

You may prefer an ongoing regular premium as opposed to a lump sum premium. The Hybrid policies can be funded by withdrawals from IRAs or other retirement accounts.

You may want to transfer money from an existing life policy to a Hybrid policy to take advantage of the additional benefits.

It is wise to consider all your options including Linked and Hybrid policies when shopping for Long Term Care coverage.

Element

Become a Member


Continue