Cathy,
Your revised long-term care (LTC) insurance quotes are ready.
🔁 Revised quotes
I’ve prepared two individual quotes from Lincoln Financial for you. Duane could still apply with OneAmerica, or I can generate comparable quotes for him through Lincoln Financial as well. Each option includes a $4,500 initial monthly benefit, with 3% annual compound growth to help keep pace with rising long-term care costs. The maximum premium payment period available with this policy is 10 years.
🧐 My notes
The primary advantage with Lincoln Financial is underwriting flexibility, as they may be more likely to approve your application.
While the benefit duration is shorter (4 years or 6 years) than One America Asset Care, the total premium is meaningfully lower because they're fully paid over 10 years. In addition, the death benefit (refund to your heirs), is roughly double the amount.
If you'd like to adjust your annual benefits, you can adjust your premium—your benefits will change proportionally (e.g., by 25%).
The average cost of assisted-living in New Hampshire was $7,400/month in 2024. Your options provide lower monthly benefits than this projection ($4,500/month), but you can bridge the gap using personal savings and Social Security. The goal for most people is meaningful coverage, not paying every dollar.
👉🏻 Next steps
If any of these options look appealing, you can schedule time on my calendar. I can also request underwriting feedback and prepare comparable Lincoln Financial quotes for Duane.
Keep in mind that premiums will increase slightly after your birthday in April. Submitting an application beforehand would lock in your current age-based rates.
📺 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