A Hybrid Long Term Care Insurance Plan is not a magical unicorn, but it does have some unique properties that can’t be found in a traditional Long Term Care Plan.

Below are some pros and cons of a Hybrid Long Term Care Insurance Plan.

Pro: If you don’t use all your premiums, your beneficiaries can keep the remainder without paying any taxes on it.

Con: An HLTC may be more expensive than a traditional Long Term Care Insurance plan.

Pro: You can potentially rollover your life insurance plan into an HLTC, saving you money.

Con: If you don’t start paying premiums before a certain age, you won’t get the most out of the compounding opportunity.

Pro: You will not be subject to premium increases.

Con: Not everyone is eligible. However, the younger you are, the higher the chance that you will get an HLTC.

Need help balancing the pros and cons? Call Pink Lemonade and an agent can help you to decide whether an HLTC is right for you.