Douglas and Ruth,
Good news. Your long-term care (LTC) insurance quotes are ready.
👀 First-look quotes
To start, I’ve provided quotes from three policies with increasing monthly costs. Each one includes 3% annual growth to help your benefits keep pace with rising LTC costs. Coverage starts immediately and remains active for life. Once care begins, benefits last for a set number of years. All policies pay for home care, assisted living, memory care, nursing care, and more.
🧐 My notes
Based on your feedback of 'Yes' to longer coverage for memory-care and 'Yes' to a refund, I’ve shown the following options.
- Base: The simplest option with a shorter benefit period and lifetime payments. It’s the most budget-friendly plan without a refund, included for comparison.
- Plus: Extends your coverage, pays off in 5 years, and returns most your premiums to your family if care is never needed. The total cost is about $200,000, with over $600,000 in potential benefits (combined for both of you).
- Cadillac: Adds longer protection for extended care needs, such as Alzheimer’s. The total cost is about $250,000, with over $800,000 in potential benefits (combined for both of you) or a refund to your kids if unused.
If you want higher or lower annual benefits, I can change any premium. The benefits and premium go up or down together.
📈 Graph of benefits
This graph shows your projected benefits and LTC costs in South Carolina if you needed care at age 80, but benefits can start at any time. For more detail, click any line.
Long-term care costs
Assisted-living in South Carolina is projected to cost $85,000/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. The goal for most people is meaningful coverage, not paying every dollar.
👉🏻 Next steps
Once you've reviewed your options, just reply to my email or text with the one that feels closest—"Base", "Plus", or "Cadillac"—and any comments you'd like to add. I’ll then fine-tune your quotes with more specifics to match your budget, with zero commitment.
📺 Still learning?
Watch this short "unboring" video on the three biggest reasons to get LTC insurance from our popular blog. 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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