Satya and Chayanika,
I'm pleased to offer three customized long-term care insurance (LTCi) quotes that provide meaningful coverage.
Comparison table
✨ All policies include:
- Flexible care: at home or in a facility
- Premium and benefit options that we can adjust
- Benefits that start whenever you qualify for LTC
View local care costs here.
Graph of benefits
This graph shows how your benefits would compare to expected LTC costs if you needed care at age 80. Click any policy name or line for more detail.
My thoughts
I chose these policies based on your preferences:
Memory care: Yes
With Alzheimer’s, care often lasts 8+ years—much longer than average. That’s why I chose policies with longer coverage. I originally quoted you a policy from OneAmerica with lifetime benefits, but NJ doesn't offer the latest version of this policy yet. I included the Mutual of Omaha policy with a “shared care” rider, which allows either of you to access the other’s benefits if your own are used up. Just note that this policy does not include life insurance.
Refund: Yes
I chose two policies—Nationwide and Securian—that include a built-in refund in the form of a life insurance payout. If you don’t end up needing long-term care, that amount goes to your heirs as an inheritance. If you do need care, the policy draws from that pool first. It’s a nice perk: unlike auto or home insurance, you can actually get money back if you never use the benefits.
Smaller payments over time: Yes
Smaller annual payments are easier on the budget but cost more over time. Often, they stop or drop once you start using benefits. If you shorten the payment period (e.g., over 10 years), your benefits will increase. Securian's longest payment option is 15 years.
The graph shows your benefits are below projected LTC costs—but you don’t have to cover everything. In assisted living, housing and meals are often included, and other income or assets can help. To boost your annual benefits, you could increase your premiums, reduce your premium schedule (e.g., pay over 10 years), or reduce the benefit duration (e.g., to 6 years) for any policy.
- Want to adjust the costs or benefits for any plan? Just reply and I’ll send revised quotes.
- Want the full brochures or illustrations? Just reply to my email and I'll send them over.
- Have questions? Just reply, text me at 720-263-2188, or grab a time for a quick call here.
Thanks,
Jesse
June 25, 2025 update
Satya,
Thanks for your email.
> I reviewed the quote. Not bad, but please let me know if OneAmerica quote can be competitive to this.
Yes, I think it's very competitive. I added the OneAmerica quote to the table and graph below and emailed you the illustration. Related, my wife and I plan to purchase the same joint OneAmerica policy for ourselves.
Comparison table
Graph of benefits
My thoughts
Some quick thoughts on your policy comparisons:
- OneAmerica stands out by offering lifetime benefits, whereas Nationwide caps benefits at 7 years—even though the annual benefit amounts are similar.
- Securian is harder to compare directly since its longest payment option is only 15 years.
- Mutual of Omaha doesn’t support 1035 exchanges, which could be a disadvantage depending on how you plan to fund the policy (more details on that below).
>Also I have a Whole Life insurance policy with Residual value about $60K with Metlife. Can I divert that to both of ours Long Term Care?
Yes—with a few caveats.
If there’s little or no tax burden, you could simply surrender the policy and use the proceeds to fund any LTC policy.
If there’s a significant tax impact, a 1035 exchange may be a better route. You could use a 1035 exchange to transfer your MetLife policy into a OneAmerica, Nationwide, or Securian policy—but not Mutual of Omaha. A 1035 exchange allows you to move the full value of the policy without triggering taxes on any gains.
To qualify, the ownership of your MetLife policy must match the ownership of the new LTC policy. For example, if you go with a joint OneAmerica policy, your MetLife contract would need to be jointly owned by both of you.
In either case, you’d make an initial lump-sum transfer (e.g., your $60K), then pay the remainder on a scheduled basis.
Next steps
To confirm that your MetLife policy can be used, could you email me a copy of the policy documents? Once I’ve reviewed them, which policy or policies would you like updated quotes for—using the proceeds of your life insurance policy as an up-front payment?
Thanks,
Jesse