Brighthouse Financial launched SmartCare which is a Hybrid Long Term Care Insurance (HLTCI) policy to compete is the fast growing hybrid LTCI market. Like other popular Hybrid Long Term Care Insurance products such as Lincoln Financial’s MoneyGuard II, SmartCare combines life insurance and long term care insurance. What’s unique about Brighthouse’s product, is they will allow you to index your cash-value, life insurance and long term care insurance to the S&P 500 or the Russell 2000. If those indexes grow you will capture up to 10% of the market gains. If the market goes South, your principle is guaranteed protected.
SmartCare brings several payments options to suit all types of consumers payment preferences. You can pay the premium with a single premium, five year pay, or a ten year pay. On the single pay for say a 58 year single person, it would be about 100K to have an average amount of Hybrid Long Term Care Insurance. That amount of premium in would instantly create about 300K of Hybrid Long Term Care Insurance and around 120K of Life Insurance. Going forward the benefits in the account would grow based on the performance of the markets.
Another unique feature to the Brighthouse SmartCare is the Hybrid Long Term Care Insurance benefits are paid on an indemnity basis. That means they will pay you the cash when a LTC claim is triggered and you can spend the money however you set fit. You can spend the money on of course care but also things and devices such as an Apple Watch that will alert help for you if it detects you have fallen or maybe ever a personal care robot we will all have in twenty years.
At Hybrid LTC Plans we work with all Hybrid Long Term Care Insurance products and know all the important fine details between plans. Some have more life insurance and less long term care insurance which others have a a better cash value. Click the link to request information on Brighthouse’s SmartCare and all the other Hybrid Long Term Care Insurance products.
