Revised LTCi Quotes for Janet B

Janet,

Good news. Your revised long-term care (LTC) insurance quotes are ready.

🔁 Revised quotes

I’ve put together three quotes that strike a strong balance between the lower annual premium you requested and meaningful long-term care protection. Changes from left to right are bolded for easy comparison, and I’ve highlighted the rows showing your cost and total potential benefits. Each option includes 3% annual growth to help your benefits keep up with rising care costs over time.

LTC costs in New Jersey
Assisted-living in New Jersey is projected to cost $164,000/year by age 80 (assuming 4% annual growth). But your policy doesn't have to cover everything. Assisted-living already includes housing and meals, and any steady income, like Social Security, can bridge the gap that your policy doesn't cover.

🧐 My notes

If you're comfortable paying an annual premium for life, options A and B offer the highest annual benefits. If you'd prefer a refund to your heirs if care is never needed, option C may be the better fit.

Here’s a quick summary of each option and how I built them:

A: I chose a 3-year benefit period and set the premium at $10,000/year for life. This gives you $127,000/year in benefits—substantial coverage given New Jersey’s projected assisted living costs of $164,000/year.

B: This option extends the benefit period to 4 years, covering the average length of care for women (3.7 years). The annual benefit is slightly lower than A, but your total maximum benefits is higher.

C: I adjusted your original quote to a 10-year premium of $15,000/year. If you never need care, $117,000 would be refunded to your heirs. The annual benefits are lower than A and B, as expected with a refund feature.

A few other considerations:

• Premiums: Mutual of Omaha’s $10k annual premium can technically increase, though it’s highly unlikely. Nationwide’s premiums are fully guaranteed.
• How benefits are paid: Mutual of Omaha reimburses you (or your provider) based on receipts. Nationwide pays benefits in cash with no receipts required—you can use the money however you'd like.
• Flexibility: For all options, we can adjust the premium up or down. Your benefits will increase or decrease proportionally.

👉🏻 Next steps

Once you've reviewed your options, just reply to my email with the one that feels closest—A, B, or C and I'll email the policy documents to you (no commitment).

📺 Still learning?

Watch our 7-minute "unboring" video on the features of 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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