Lora and John,
Thanks for giving me the opportunity to help you explore long-term care planning.
Based on our conversations, I’ve put together several illustrations to give you a sense of the types of coverage and costs that may be available now or in the future. These quotes are for planning purposes only, and none of the options shown below can be purchased by you at this time.
First, please watch this short video I made for you:
🔎 Your quotes
I’ve provided three quotes so you can compare different approaches to long-term care coverage, including limited-duration, lifetime, and annuity-based hybrid benefits.
🧐 My notes
These three options illustrate different approaches to long-term care coverage.
Option A: Securian provides six years of cash benefits, plus a death benefit for your heirs if you never need long-term care.
Option B: OneAmerica provides similar coverage, but with lifetime long-term care benefits instead of a six-year benefit period.
Option C: This LTC/annuity hybrid can provide 3x the amount funded in long-term care benefits. For example, $100,000 of funding can provide approximately $300,000 in LTC benefits. Qualification is simplified. You'd qualify if you can answer "no" to the health questions below and complete an online video assessment that includes basic memory questions and physical movements.
Global Atlantic offers a similar annuity-based option that is currently available in California, although its long-term care benefit is 2x the amount funded rather than the 3x benefit from EquiTrust.
Big picture: These illustrations are intended to give you a concrete sense of what long-term care coverage can look like and what different approaches may cost. While none of the options shown are available for purchase right now, we can revisit things in about a year if you’d like and see whether your options have changed.
Sincerely,
Jesse