_OH_Hybrid Long-Term Care Insurance Products

This course presents a comprehensive look at the new hybrid insurance products: specialized annuity and life insurance contracts that offer “linked” benefits for covered long-term care services. The course explains how changes to the tax laws have led to the development of this new generation of hybrids that can provide both long-term care benefits as well as annuity or life insurance benefits. The course describes the most common hybrid designs, illustrating how the products function when long-term care benefits are claimed as well as when they are not. Importantly, the course includes a discussion on the suitability of these new hybrid products and how producers can ensure that any recommendation they make is appropriate for the buyer’s needs and objectives.

The course includes the following chapters:

  • The Nature of Long-Term Care
  • The Cost and Risk of Long-Term Care
  • Overview of Hybrid Products
  • Annuity/LTC Hybrid Products
  • Life Insurance/LTC Hybrid Products
Upon completion, students will be able to:
  • describe the nature of long-term care and the settings in which it is customarily provided
  • demonstrate an understanding of the risks of needing long-term care and its costs in various settings
  • explain the tax rules effective after 2009 applicable to distributions to pay for coverage under annuity and life insurance hybrid products
  • describe the principal benefit designs and features of annuity/LTC hybrid products
  • explain how long-term care benefits are delivered under life insurance/LTC hybrid products
  • identify the suitability factors to consider when recommending annuity/LTC and life insurance/LTC hybrid products

Find Courses Now