The short version
A hybrid policy pays a death benefit if long-term care is never needed. On our long-term care insurance comparison, it's labeled Best hybrid life + LTC.
Key facts
| Policy type | Hybrid life/LTC |
|---|
| Issue ages | Up to 75 |
|---|
| AM Best | A++ |
|---|
What stands out
- Combines life insurance with long-term care benefits
- Benefit periods of up to 7 years
- A++ financial strength rating from AM Best
Pros and cons
Pros
- Top financial strength rating
- Death benefit if care isn't needed
Cons
- Higher upfront cost than traditional coverage
How New York Life compares
Side-by-side comparison
| MO Mutual of Omaha | NY New York Life | N Nationwide |
|---|
| Policy type | Traditional | Hybrid life/LTC | Linked benefit |
| Issue ages | Up to 79 | Up to 75 | Up to 75 |
| AM Best | A+ | A++ | A+ |
| Visit site | Visit site | Visit site |
Head-to-head comparisons
Alternatives to consider
What to check before you sign up
Whichever long-term care insurance provider you choose, compare these points:
- Daily or monthly benefit. The maximum the policy pays per day or month of care. Compare it with care costs where you live.
- Elimination period. The waiting period before benefits start, often 30 to 90 days. Longer periods lower premiums.
- Inflation protection. Care costs rise over time. An inflation rider helps the benefit keep pace.
- Traditional vs. hybrid. Hybrid life/LTC policies pay a death benefit if care is never needed, but cost more upfront.
