Scott and Shari,
Good news. Your revised long-term care (LTC) insurance quotes are ready.
🔁 Revised quotes
I’ve provided three quotes with 3 years of benefits, 3% compound benefit growth, and approximately $45,000 per year in initial benefits. For an apples-to-apples comparison, I used a 10-year premium schedule, and I’ve included alternative payment options as well. You’ll find my notes below the table.
🧐 My notes
All three options provide strong benefits. There are several directions we could explore on a call, but these summaries will help frame your choices.
Option A (NGL EssentialLTC)
This joint policy offers the highest benefits among similar traditional policies. It is the least expensive option, but it does not include a refund if benefits are never used. Premiums can be paid for life, although annual costs may increase over time because they are not guaranteed. You also have the option (not included in this quote) to add a shared care rider that creates an additional third pool of three years of benefits. Read my review.
Option B (Nationwide Together)
This joint policy allows you to share benefits. If one of you needed six years of care and the other needed none, you could still use the full combined benefit pool. It also includes a refund of $135,000 if no benefits are paid and both of you pass away. Benefits are paid as cash, which offers more flexibility because no receipts are required. Read my review.
Option C (Nationwide CareMatters)
These are two individual policies similar to Option B, but benefits are not shared. The refund amounts are higher and paid after each of you dies ($90,000 each). Consider this option if a larger refund is a priority. Read my review.
Assisted living in Delaware currently averages about $102,000 per year, though costs may be lower in other states. These options provide lower annual benefits (about $45,000 per year), and you can bridge the gap with personal savings and Social Security. The goal for most people is meaningful coverage, not covering every dollar.
If you’d prefer higher annual benefits, you can increase your premium and your benefits will rise proportionally.
👉🏻 Next steps
If any of these policies stand out, we can set up a brief call. That will help me understand your goals and guide you toward the best fit for both of you. You can schedule a time here.
📺 Still learning?
Watch our "unboring" video on qualifying for LTC insurance. That's me in the video.
Thanks,
Jesse
Jesse Vickey at Long Term What?
Schedule a call or 720-263-2188
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