Has anyone thought about or even actually created their own "hybrid" LTC policy for a client?
You would need a regular LTC policy and a GUL policy (to at least age 100) to cover at least the principal. If it's a lump sum premium payment, then you know how much the GUL needs to cover. If the client is paying monthly, then I guess cover at least 20-25 years worth of premium.
The point is to get back the principal if they don't use the LTC policy. That's the same principal with the hybrids.
It would work best if the regular LTC policy didn't have any rate increase in the future.
I haven't run the numbers. However, if the numbers are better than a combined hybrid, then shouldn't this be an option as well? Assuming the client can get the GUL policy of course.
You would need a regular LTC policy and a GUL policy (to at least age 100) to cover at least the principal. If it's a lump sum premium payment, then you know how much the GUL needs to cover. If the client is paying monthly, then I guess cover at least 20-25 years worth of premium.
The point is to get back the principal if they don't use the LTC policy. That's the same principal with the hybrids.
It would work best if the regular LTC policy didn't have any rate increase in the future.
I haven't run the numbers. However, if the numbers are better than a combined hybrid, then shouldn't this be an option as well? Assuming the client can get the GUL policy of course.