Find the Best Long-Term Care Insurance

in New Jersey

How Does Long-Term Care Insurance Work?

Most people don’t expect to need an assisted living facility or nursing home, so the high cost of long-term care can come as a shock. According to the AARP Public Policy Institute, “on average, 52% of [seniors] will develop a severe disability that will require long term support services at some point.” The good news? Many New Jersey senior care facilities rate above the national average by the Centers for Medicare and Medicaid Services. Unfortunately, long-term care in New Jersey is also among the costliest in the nation. That’s where long-term care coverage comes in.

After collecting multiple long-term care insurance quotes for your review, your independent insurance agent can help you purchase the policy that fits your needs and budget. You’ll then pay a monthly insurance premium until you need to use the coverage.

Benefits pay out if you require long-term care, whether in an assisted living or subacute nursing facility or due to a diagnosis requiring continuous treatment, such as cancer or post-stroke recovery. These payments can greatly reduce the additional stress and financial hardship often associated with costly long-term care in New Jersey.

Is LTC Insurance Worth It?

To decide if long-term care insurance is worth it to you, consider the approximate average costs New Jersey residents paid last year for these common care options:

  • Home health aide: $4,960 per month
  • Private room in a nursing home: $11,870 per month
  • Adult day care: $1,900 per month
  • Assisted living facility: $6,650 per month

Are your retirement savings enough to cover the cost of long-term care? If not, investing in long-term care coverage may be a good idea.

Find an independent agent in New Jersey

Planning for the High Cost of Long-Term Care in New Jersey

It’s never too early to safeguard your future with the right long-term care insurance coverage. To determine whether a traditional or hybrid policy is best for you, speak to an independent insurance agent today and worry less tomorrow.

How to Get the Lowest Long-Term Care Insurance Premiums

  1. Purchase the policy at a younger age
  2. Watch your weight
  3. Don’t smoke
  4. Compare multiple long-term care insurance quotes

Long-Term Care Insurance Cost and Coverage

Annual long-term care insurance premiums vary, and are based on a number of factors, including your age, health, lifestyle, and each policy’s specific terms. That makes estimating an individual’s long-term care insurance cost impossible. But several years ago, for all policies throughout the country, the average annual long-term care insurance premium was $2,169. Your own long-term care insurance rate may be as low as $1,400 per year or as high as $9,500 per year, depending on the policy you choose and your individual circumstances.

What Does a Long-Term Care Insurance Policy Cover? 

People covered by long-term care (LTC) insurance have one less worry if faced with a disabling or chronic health issue. LTC insurance coverage can help pay for a lot of possible expenses, including:

  • Assisted living facilities
  • Nursing homes / subacute care facilities
  • Long hospital stays
  • Multiple surgical procedures
  • Prescription medications
  • Physical therapy
  • Chemotherapy and radiation
  • Dementia care
  • Diagnostic testing

An independent insurance agent can help you find the best long-term care insurance coverage for your situation. They have expert local knowledge, understand the ins and outs of the New Jersey Long-Term Care Insurance Partnership program, and will help you navigate the plans and options available so you can choose a policy with confidence.

Why Choose an Independent Insurance Agent?

  • Independent agents provide personalized service and advice
  • You can have all your insurance needs managed under one roof
  • Local agents can ensure that your policy is competitively-priced

Find an independent agent in New Jersey

My son just got his license so we wanted to bundle the packages for the insurance together. I called some companies directly and I also tried an independent agent but the cost wasn’t good enough. The Trusted Choice agent gave me the best price and he was also very nice. He was great and I recommended him to somebody else. I will tell my friends to go for it if they ask. In the end, we’re all looking to save some money since insurance is getting higher and higher.

five star review Joe of Mount Holly, NJ Consumer Affairs

A New Option: Hybrid Long-Term Care Insurance

Traditional long-term care policies have two options: They pay out if you need them, or they don’t pay at all. Basically, they transfer much of your financial risk to the insurance company for the price of the policy’s premium. Many consumers appreciate the simplicity of this model. Others, however, prefer hybrid long-term care insurance.

Hybrid LTC policies, sometimes referred to as “live, die, or quit,” combine long-term care benefits with life insurance and annuities. Insurance carriers offer an array of creative packages, each with its own benefits, at a wide range of rates.

Typically, hybrid long-term care insurance in New Jersey provides:

  • Premiums paid up-front, eliminating rate increases
  • Coverage for long-term care in a variety of settings
  • Death benefits that pay any unused portion to your heirs
  • Return of your premiums to you if you cancel

Hybrid LTC insurance coverage usually requires a large initial investment, sometimes paid for through an IRA rollover, so this option isn’t for everyone. These policies are great if you have an existing medical condition that disqualifies you from a traditional plan, because hybrid policies often require minimal underwriting—the determination of rates and eligibility is based on health and lifestyle questions. Hybrid long-term care insurance is also popular with higher net worth individuals.

Compare the Best Long-Term Care Insurance Quotes in New Jersey for You...

Top Insurance Companies That Support Independent Agents in New Jersey 

There are currently 485 independent insurance agents in New Jersey who are ready to help. These agents can save you time and money by helping you find competitively priced coverage that is well-suited to meet your specific coverage needs. Talk to an insurance agent near you to learn more and to start comparing customized LTC insurance quotes.

Why go Independent

Why Go Independent When Looking for Long-Term Care Insurance?

  • Expertise in NJ insurance options
  • Multiple quotes from one agent
  • Get more value for your money