Life Insurance and Long Term Care

Life Insurance and Long Term Care

Core Facts

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Nearly 70% of Americans 65 and older need long term care at some point, according to the U.S. Department of Health and Human Services. And according to the most recent statistics, 10 out of 10 Americans will die at some point in their lives. 

Humor aside, life insurance and long term care insurance are financial services that are extremely useful, especially to someone who has family depending on them or someone who is getting on in age and starting to consider what might happen to their family as the inevitable approaches. 

Something that is gaining traction in the financial services world is “hybrid insurance.” It’s life insurance with a long-term care rider that allows you to use that money for healthcare if you need it.

Considering that long term care insurance policies are some of the more complicated ones that you may encounter, this hybrid product may be just the ticket to simplify the process. 

After all, a life insurance policy stands apart from others, in that the policyholder has a certain need for the benefits at some point in time. 

Your needs will depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. For example, when you're young, you may not have a great need for life insurance. However, as you take on more responsibilities and your family grows, your need for life insurance increases.

“Whatever you don’t use gets passed along to your family after you die. You can pay for it either all at once or over the course of 10 years or so,” says Executive Vice President of Investor Services, Daniel Lerner of David Lerner Associates. 


Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC



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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website:

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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