LTCi Quotes for August and Ann

August and Ann,

Your revised long-term care insurance quotes are ready. It’s great to see you’ve already spent time researching long-term care coverage. That background should make it easier to narrow in on the right fit for both of you.

Please watch this short video first:

🔎 Your quotes

I’ve included three quotes, each with an initial benefit of $6,000 per month per person, based on the coverage you requested.

🧐 My notes

Treat these three quotes as a starting conversations. We can fine tune them based on your budget and goals.

• Option A includes the Mutual of Omaha policy you referenced. I quoted a $6,000/month starting benefit with 5 years of benefits, 3% compound growth, and the joint waiver of premium. I did not include Shared Care in this version, though it can be added for a total premium of $1,222/month. Some of the features you mentioned, Preferred Plus health discounts and 30%-40% cash benefits, are not available with this policy.
• Massachusetts handles long-term care cost protection differently than most states through its own MassHealth program. Because of that, they do not offer a partnership program and Massachusetts-issued policies do not receive partnership reciprocity treatment if you later move to Illinois or another state.
• Partnership coverage can still be valuable, but I would view it as only one factor among many when comparing policies. In practice, very few people fully exhaust their benefits, spend down assets to Medicaid levels, and ultimately rely on partnership asset protection.
• Only traditional long-term care policies (e.g. Mutual of Omaha) can qualify for partnership status. Hybrid policies (options B and C), which include a refund or death benefit to heirs, do not. Since you mentioned wanting a refund to heirs, I included hybrid options as well.
• Option B, Nationwide Together, offers an 8-year shared pool of care benefits between the two of you. This can work especially well if one person ends up needing extended care, such as a longer memory care claim. It also includes a death benefit if little or no care is needed.
• Option C from OneAmerica is the only policy offering lifetime benefits. Since you mentioned interest in longer-duration coverage, this was worth including as a comparison.
• Options B and C offer a variety of additional payment schedules, including a single payment, payments over 5 years, etc.

👉🏻 Next steps

Schedule time on my calendar to review these options together.

Thanks,
Jesse

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