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Single premium long term care insurance ******* Pros and Cons of Single Pay Life+LTC Hybrids We’ve covered hybrid long term care insurance policies on the site before, but we wanted to dive in a bit deeper on the concept of paying a one time, lump sum premium. The obvious advantage is that for some people, a single premium is a convenient way to “take care of” the Long Term Care financing conundrum once and for all. Like virtually every financial product, though, there are pros and cons and one approach may not fit all. In this article we’ll go through a few common advantages as well as pitfalls of the concept of a single premium option. Who Are Single-Premium Life + LTC Hybrid policies for? When actuaries sit down to design a life insurance policy, they take company factors into account, but they also realize there has to be a “carrot” to incentivize the market to consider their product. Hybrid policies are getting the lion’s share of attention right now and come with some of...