Life protection and long-term care against disability and injury are critical to health and longevity. Life insurance ensures that you leave a legacy for your dependents and also take care of your family even if you are deceased. Usually, life insurance and long-term care are provided in different packages but Blue Cross provides the two insurance plans in one package known as the tangible life insurance hybrid plan.
As the name implies, this life insurance plan offers two protections both life insurance and long-term care. The life insurance coverage includes up to $1 million in coverage and it is gradually converted into long-term care if the insured reaches the age of 56. Even when converted to long-term care, the balance of life insurance will still remain in force but the insured will be protected for a long-term.
Benefits and Features of Tangible Plan – Hybrid
In the event of the death of the insured, Blue Cross will pay the insured an amount based on the amount insured and also based on the insured’s age at the time of death. For instance, if the insured is between 15 days and 55 years, the amount paid will be 100% of the initial amount insured but the percentage will decrease as the age increases.