Ashley Dannelly has a Master of Arts in English and teaches English at Columbia International University and other higher education institutions. She is also a certified personal trainer with the American Council on Exercise and trains clients in both individual and group settings. Ashley’s background in English and fitness has allowed her the opportunity to write and create content for many ...

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Written by Ashley Dannelly
Certified Personal Trainer Ashley Dannelly

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Car Insurance Agent Daniel Walker

UPDATED: Jun 28, 2022

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It’s all about you. We want to help you make the right life insurance coverage choices.

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Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top 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.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

Don't Miss These Facts

  • Single-premium insurance allows you to pay one lump sum in order to fully fund your life insurance policy
  • Long-term care riders are a costly addition to any life insurance policy
  • In order to use a long-term care rider, you need to be diagnosed with a chronic illness by a health care professional

As we get older, our children or loved ones may wonder if they need to hire a caregiver or take on the responsibilities themselves. You may find as you age that you are concerned with your long-term care options.

If that’s the case, you may be curious to find out more about life insurance companies that offer single-premium life insurance with long-term care riders.

There are plenty of life insurance policies that provide options for long-term care insurance, and there are also many companies that offer single-premium life insurance policies. But it may be tricky to combine the two.

With some companies and riders, you may be able to begin using life insurance to pay for long-term care, though this is dependent upon the type of life insurance policy you have.

If you are searching for a life insurance company that allows you to purchase a single-premium life insurance policy with a long-term care rider, you will want to do your research before making any decisions.

One of the most important things to consider is whether a long-term care rider will be worth the money you will pay for your single-premium policy upfront.

As you do your research, you can compare quotes from top insurance companies to see who is offering single-premium plans with long-term care riders at the most affordable rates.

Don’t forget to use our free tool above to compare quotes while you’re looking for single-premium life insurance with long-term care riders.

What life insurance companies offer single-premium plans with a long-term care rider?

Most life insurance companies offer single-premium policy options. Some of the top insurance companies to offer single-premium plans include:

  • Northwestern Mutual
  • Guardian
  • Haven Life
  • MassMutual
  • AARP
  • New York Life
  • State Farm
  • USAA
  • Pacific Life

If you think a specific company might be your best option when it comes to life insurance, you can do some research to learn more. For example, you can read our State Farm life insurance review to better decide if the company is a good fit.

A single-premium life insurance policy allows you to pay one large lump sum that fully funds the death benefit of your policy.

Individuals who have a special needs child who would need care after they pass away or who have a large sum of money they can use as a premium to pay for their policy may want to consider single-premium life insurance.

Though many companies have options for single-premium policies, there are some life insurance companies that don’t offer single-premium life insurance with long-term care riders.

If you know you’re looking for a single-premium plan that allows for a long-term care rider option, you’ll need to ask the insurer if this is possible before you pay the one-time premium.

Enter your zip code below to view companies that have cheap life insurance rates.

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How does a long-term care rider work?

A long-term care rider essentially allows policyholders to receive a portion of the death benefit associated with their policy early.

This portion can be used to pay for anything involving a policyholder’s long-term care, as long as that individual is diagnosed with a chronic illness.

Some of the chronic illnesses that typically allow you to use a long-term care rider include:

  • Diabetes
  • Alzheimer’s disease
  • Epilepsy
  • Arthritis
  • Heart disease
  • Asthma
  • HIV/AIDS
  • Cancer
  • Mood disorders
  • Crohn’s disease
  • Multiple sclerosis (MS)
  • Cystic fibrosis

If you are diagnosed with a chronic illness, a long-term care rider will pay for a caregiver to perform any activities of daily living you cannot perform on your own.

Typically, long-term care riders will pay for at-home care as well as care in a long-term care facility.

Use our free tool above to compare quotes while you’re looking for single-premium life insurance with long-term care riders.

What are the best hybrid long-term care policies?

A hybrid life insurance policy is a life insurance plan that includes a long-term care benefit. While a single-premium plan with a long-term care rider is one example of a hybrid policy, it is not the only one.

You can invest in a linked benefit, which essentially links a life insurance policy with a long-term care policy. The benefits for long-term care would equal about four times the investment.

Another hybrid life insurance option is a chronic illness rider. If you have a chronic illness, this rider will allow you to use a portion of the death benefit to help pay for any required care.

Should I buy a single-premium plan with a long-term care rider?

You can always buy a single-premium plan instead of a plan that requires you to pay monthly rates. The biggest deterrent for a plan like this would be a person’s lack of savings or disposable income to invest in a single-premium plan.

Whether you invest in a long-term care rider depends on a number of factors. Utilizing a benefit like this would lower the death benefit that your beneficiaries would receive. Depending on your overall portfolio, a long-term care rider may work best for you and your loved ones.

Before you decide on single-premium life insurance with a long-term care rider, do your homework and research other options for long-term care.

You can also use our free tool below to compare rates for single-premium life insurance and see what might work best for you.

  1. https://www.annuity.org/annuities/riders/long-term-care/