Revised LTCi Quotes for Wendy

Wendy,

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

🔁 Revised quotes

I’ve provided three quotes with guaranteed premiums that cannot increase, each offering benefit periods longer than 3 years. Below are my notes on these options.

🧐 My notes

I reviewed all available hybrid policies with guaranteed benefits to find the best overall value for your age.

Option A: Lincoln Financial gives you the choice to receive benefits as reimbursement (by submitting receipts) or as cash equal to 80% of your benefit amount, which is more flexible. This policy provides 4 years of benefits and includes a refund to your heirs of $151k if you never need care. That refund exceeds the total premiums paid ($100k).

Option B: This is the same Lincoln Financial policy as Option A, but with 6 years of benefits and slightly lower annual benefit amounts.

Option C: For comparison, I included this OneAmerica policy because it offers lifetime benefits. However, it costs more than 2x as much relative to the annual benefits of Options A and B.

How much insurance?

Assisted-living in Massachusetts (one of the most expensive states for LTC) is projected to cost $220,000/year by age 80 (assuming 4% annual growth). If you received care outside of MA, your costs would likely be lower. Your options provide lower annual benefits than this projection ($126k for option B), but you can bridge the gap using personal savings and Social Security. The goal for most people is meaningful coverage, not paying every dollar.

Premium options

• If you'd like to adjust your annual benefits, you can adjust your premium—your benefits will change proportionally (e.g., by 25%).
• Lincoln Financial also offers payment options of once (one lump-sum) or over 10 years. This can also be paid monthly instead of annually. If you'd like to see one of these alternative payment options, let me know.

My recommendation

I’d likely lean toward Option B for the longer benefit period (6 years) compared with Option A, given the similar annual benefit amounts.

OneAmerica is a strong option if lifetime coverage is a top priority, but at more than 2x the cost, it is significantly more expensive.

👉🏻 Next steps

If any of these policies look appealing, please schedule time on my calendar so we can review the options together and address any questions you may have.

📺 Still learning?

Watch our "unboring" video on qualifying for LTC insurance or visit our website. That's me in the video.

Thanks,
Jesse

Jesse Vickey at Long Term What?
Schedule a call or 720-263-2188