It can be difficult for individuals to determine if they need long-term care insurance and, if they do, what kind is right for them. Krystie Dascoli, voluntary benefits practice leader at Marsh McLennan Agency, recently spoke with CBS News about her advice for purchasing coverage, including the value of a "hybrid" life insurance policy.
"It's a multi-use policy that uses a life insurance chassis and includes a long-term care rider," Krystie says. "What we like about this type of policy is that it will pay for something at some point. The policy will pay a death benefit, but it also includes a payment for someone who is terminally ill or needs long-term care. It also builds cash value, and people can purchase the program from their employer without medical questions. This type of policy is a win-win for everyone."
