What happens if I never use my long-term care insurance?

With a traditional policy, it works like most insurance: if you never need care, the premiums are not refunded. You paid for protection you were fortunate not to use.

If that concerns you, a hybrid policy addresses it directly: because it is built on life insurance or an annuity, your family receives a death benefit (or your money back) if you never use the long-term care benefit. That guarantee is a big reason hybrids have grown popular.

General information only. This is educational and not insurance, legal, tax, or financial advice. Rules and products vary and change — confirm the specifics with a licensed professional.