In an effort to boost long-term care insurance policy sales, more companies have begun selling combination products that also include traditional life insurance. These hybrid policies are usually built using universal life, which has an investment component. The policies also may pay out the death benefit early to help finance care. Sales of these new policies more than doubled last year at Genworth Financial Inc. That’s quite a contrast from traditional long-term care insurance policies, which have seen their sales fall by nearly a quarter in the last five years.
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