Margaret and Rafael,
I'm pleased to offer three customized long-term care insurance (LTCi) quotes that provide meaningful coverage.
Comparison table
❓Quote jargon
- You pay: You pick your budget; increase or decrease it 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)
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
Nationwide offers higher annual benefits, while OneAmerica provides higher total benefits because it covers you for life. It comes down to where you want to prioritize coverage—typical LTC needs averaging 3 years, or memory care, which often lasts much longer.
I chose these policies based on your preferences.
Memory care: yes
Alzheimer’s care often stretches beyond 8 years—well over the typical 3-year average. That’s why I picked policies with longer benefit periods.
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.
Smaller payments: yes
Smaller payments over many years are easier on the budget but cost more in the long run. Since you prefer this option, I chose the longest payment periods available for each policy.
Benefit growth options
Since you’re under 45, I used 5% benefit growth instead of the more typical 3% to give you higher benefits by your 80s—when care is most often needed. As a next step, we can review a side-by-side graph comparing 5% and 3%.
LTC costs in Pennsylvania
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 benefits. What would you like to adjust?
(1) Reduce my payment years to ___.
(2) Reduce my benefit years to ___.
(3) Increase my annual budget to ___.
Want to talk about your options? Just reply or grab a time for a quick call here. Zero sales pressure.
Thanks!
Jesse