Situation One
Someone who doesn't want to pay annual premium for a traditional long term care policy and want money in a safe, yet low-yielding investment. If the long term care benefits are not triggered, one can earn a low yield from the annuity.
Situation Two
Retirees who have significant cash value built up in life insurance policies in which the death benefits are not longer needed. Exchanging the cash value into a hybrid product to address the potential future long term care neede is a great way to get long term care insurance with no additional out of pocket expense.
In the end, annuities with LTC riders could be perceived as "no, thanks" by some, but a "no-brainer" by others.
If you are interested in such products, including life insurance products with LTC riders, please contact us as we represent all the major ones in the marketplace.