Linda,
Good news. Your revised long-term care (LTC) insurance quotes are ready.
🔁 Revised quotes
I've provided three hybrid quotes. To maximize your monthly benefit, I removed benefit growth, meaning the benefits will not increase with rising LTC costs. The first two options are designed with 3 years of benefits, and the third includes lifetime benefits for comparison. In the cost row, you'll find multiple payment options (e.g., "5y @ $24k" means you'd pay $24k for 5 years).
🧐 My notes
All three options are strong policies with premiums that are guaranteed not change and each includes a refund to your spouse, kids, or heirs that is close to the total premiums paid if you never need care.
Assisted-living in Massachusetts is projected to cost $138,000/year by age 80 (assuming 4% annual growth). Your options provide lower annual benefits than this projection, but you can bridge the gap using personal savings and Social Security. The goal for most people is meaningful coverage, not paying every dollar.
If you'd like to adjust your annual benefits, you can adjust your premium—your benefits will change proportionally (e.g., by 25%).
👉🏻 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