Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Oct 21, 2021

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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Facts You Should Know

  • There are very few options for single premium life insurance with long-term care riders
  • Many companies do offer traditional term life insurance policies with long-term care riders
  • Hybrid long-term care insurance policies tend to cover long-term care expenses by deducting funds from a death benefit

If you aren’t interested in recurring monthly payments on term life insurance, you might consider life insurance companies that offer single premium life insurance with long-term care riders.

Having an assortment of monthly payments can be confusing at times. We’ll help guide you with ways you can combine single premium life insurance with long-term care insurance alongside how and when to buy it.

Keep scrolling to learn about life insurance companies that offer single premium life insurance with long-term care riders or enter your ZIP code to get instant quotes for free from top insurers near you.

What is the best way to combine life insurance and long-term care insurance?

Many people purchase life insurance and long-term care insurance separately until it’s too late, not knowing that many insurers will actually combine the policies for you.

Many times, a policy that combines a life insurance policy and long-term care insurance policy is referred to as hybrid life insurance or hybrid long-term car insurance policy.

The best hybrid long-term care policies typically vary from person to person, but these policies should be provided by reliable life insurance companies with strong financial ratings.

What are the types of hybrid life insurance products?

If you’re looking for life insurance with long-term care benefits, you’ll have a couple of options. Generally, combination policies will have two separate components which include the life insurance policy and a long-term care rider.

What is a long-term care rider? Long-term care riders are policy add-ons that offer additional benefits or policy features, typically at an added cost. A long-term care rider helps fund expenses related to long-term care, such as a nursing home.

How does a long-term care rider work? Long-term care riders allow policyholders to withdraw portions of the death benefit for long-term care expenses, when applicable. There are many life insurance riders that can help make your policy more flexible.

Average Cost of Long-Term Care
Long-Term Care ServiceAverage Cost
Private room in a nursing home$7,698 per month
Semi-private room in a nursing home$6,844 per month
One-bedroom unit in an assisted living facility$3,628 per month
Adult day health care center$68 per day
Health aide$20.50 per hour
Homemaker services$20 per hour
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Of course, this feature tends to cause an increase in your monthly life insurance cost. That said, the high cost of long-term care could make this rider worthwhile rather quickly.

What does a long-term care rider pay for? Long-term care riders will pay for virtually any major expense related to long-term medical care. This could be nursing home expenses, therapy, or other similar costs that are designed to get you back to a normal life.

Long-term care riders can be added to virtually any life insurance policy that has a death benefit. This includes traditional life insurance, single premium life insurance, and other permanent life insurance options.

Many insurance companies don’t offer single premium life insurance, however, State Farm is a well-known provider with strong customer satisfaction ratings, according to J.D. Power.

Should I buy life insurance with a long-term care rider?

It could be beneficial to purchase life insurance with a long-term care rider. The appeal of combination policies is that they will typically be more affordable than two separate policies, especially if you wait to purchase long-term care insurance until you’re ill.

It’s important to understand how hybrid life insurance pays for long-term care, however. Using life insurance to pay for long-term care comes from your main death benefit.

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This means that the funds you withdraw for your long-term care will be inaccessible to your beneficiaries when the time comes. Instead, your beneficiaries will be given the remainder of your death benefit less any long-term care expenses.

The pros and cons are fairly simple. If you don’t have a large savings of your own or great health insurance, your long-term care insurance could help save you financially.

On the contrary, long-term care is very expensive and could deplete your death benefit rapidly, leaving just a small death benefit for your beneficiaries.

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Best Hybrid Long-Term Care Insurance: The Bottom Line

The truth is, there are many life insurance companies that don’t offer single premium life insurance with long-term care riders. You’re more likely to secure a hybrid long-term care policy with a more traditional life insurance type.

By now, you should know more about life insurance companies that offer single premium life insurance with long-term care riders. Before you go, enter your ZIP code to get free quotes from top insurers near you.