A hybrid annuity combines long-term care within an annuity where you make a series of payments or a single payment to an insurance company for a fixed annuity that includes a long-term care rider. As a result, you’ll receive monthly income spread out over a certain number of years or for the rest of your life.
Annuities are purchased from insurance companies. A hybrid annuity might be right for you if you want a predictable and guaranteed income source in your future.