Gary and Lisa,
I'm pleased to offer three customized long-term care insurance (LTCi) quotes that provide meaningful coverage. I originally quoted you a policy from OneAmerica with lifetime benefits, but NJ doesn't yet offer the latest version of this policy. You'll see my thoughts on these quotes below.
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 also want to understand how much for my wife and how much for me - can you separate them out
Below is a breakdown of individual costs and benefits. You'll notice that Lisa's costs are higher (e.g., lower benefits) because women tend to live longer and need more LTC. Scroll to the right to see all the columns.
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. For Mutual of Omaha, I included a 'shared care' rider where if Partner A exhausts their benefit pool, they can begin using Partner B’s benefits.
Refund: No
I chose two policies that don’t offer life insurance—these are often called 'pure LTC insurance' because they only pay for care and are usually more affordable. I also included one with a refund option (Nationwide) for comparison. With Nationwide, if you don’t need care, your heirs get a life insurance payout. It’s a nice perk—unlike auto or home insurance, you can actually get money back if you don’t use it.
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. I chose three policies with the longest payment schedules to keep annual costs lower. If you shorten the payment period, your benefits will increase.
Comparison to LTC costs
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.
Choices
I recommend choosing a few key priorities to guide your decision.
- If you prefer having some life insurance, consider Nationwide CareMatters or Securian SecureCare (not quoted here).
- If you’re focused on extended coverage for memory care, take a look at NGL and Mutual of Omaha (MoO). Both offer a range of riders. For example, with MoO, premiums stop when you're on claim. NGL offers a similar benefit, but it requires an additional paid rider. I'm happy to walk you through the pros and cons of each.
- If you're focused on higher annual coverage for a shorter, more likely LTC need (e.g., an average of 2.2 years for men and 3.7 years for women), we can increase your annual benefit amounts by:
(a) shortening the benefit duration,
(b) increasing the premium, and/or
(c) selecting a shorter payment period (e.g., 10 years or less).
You're asking great questions, and I’m happy to help you find the policy that best aligns with your priorities.
Next steps
- Want to adjust the costs or benefits for any plan? Just reply and I’ll send revised quotes.
- Want the full brochures or illustrations (with all the future benefit cashflows)? 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