LTCi Quotes For John L

John,

I'm pleased to offer three customized long-term care insurance (LTCi) quotes that provide meaningful coverage.

Comparison table

🧐 Quote jargon

• You pay: Once all payments are made, your benefits stay available anytime in your lifetime. Increase or decrease your payments, and benefits adjust by the same percentage.
• Benefit growth: Your benefits grow each year at this rate to help keep up with rising LTC costs
• Benefit years: Once you qualify, benefits can begin right away and last up to this number of years
• Annual benefits: The max amount you can receive each year; the chart shows benefits at age 80 as an example
• Total benefits: The full amount available if you need care every year for the full benefit period
• Life insurance: Paid to your heirs if you never need LTC
• Payout method: Cash lets you use funds however you choose; reimbursement requires receipts
• Pay options: Shorter payment schedules give you more benefits (but cost more per year)

To help you dig into the numbers yourself, you can download the below illustrations.

Graph of benefits

This graph shows how your benefits would compare to expected LTC costs in your state if you needed care at age 80. Click any policy name or line for more detail.

My notes

I chose these policies based on your preferences.

Memory care: unsure
Alzheimer’s care often lasts 8 years or more—well beyond the typical 3-year average. For this first round of quotes, I used 4-year benefit periods, which still come in below your projected LTC costs. If we extend the benefit period, your annual benefits will decrease further. At the bottom of my notes, you'll see options to increase your annual benefits.

Refund: unsure
Some policies include a life insurance refund if you don’t need long-term care, so your heirs receive most or all of the money back you spent as an inheritance. I picked a mix of policies with and without life insurance. You'll notice the higher annual benefits for the NGL policy without the life insurance.

Smaller payments: unsure
Smaller payments over many years are easier on the budget but cost more in the long run. So I chose mid-range payment periods of 10 years. In most/all of the policy illustrations, you'll find the cost by payment period (e.g., once, over 5 years, etc).

LTC costs in Washington
The graph shows your benefits are below your projected long-term care costs—but that doesn’t mean you’ll have to pay the difference out of pocket. Assisted living often includes housing and meals, which may replace expenses you’d otherwise be paying for housing or food. Other income, like social security, or assets can help bridge the gap.

Next steps

After reviewing these quotes, most people ask for a few tweaks to increase their annual benefits. What would you like to adjust?

(1) Reduce my payment years to ___ (from 10).
(2) Increase my annual budget to ___.

Reply by email with any questions.

Thanks!
Jesse