Annuities with Long-Term Care Riders

The passage of the Pension Protection Act of 2006 (PPA) opened the door for "hybrid" annuity/long-term care insurance products.

Under a hybrid annuity, the two sources of cash used to pay long-term care costs are the annuity cash value and an independent long-term care insurance benefit. Although both sources of cash are available to the contract owner requiring covered long-term care, the point at which the independent long-term care insurance benefit commences depends upon the hybrid product's design. 

These products deliver long-term care benefits and/or tax-deferred accumulations of cash value for retirement income, if long-term care is not needed.

Contact us today to explore your options to plan for long-term care utilizing a "hybrid" annuity/long-term care strategy.

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