Intro
NGL EssentialLTC is an individual or joint traditional policy that stands out in the world of long-term care insurance (LTCi) for a few optional features:
- Lifetime benefits: Coverage for extended memory care costs.
- Joint policy: Lower costs for two people under one plan.
- Premiums won't go up: Get peace of mind.
- Return of premium: Potentially get your money back.
- More tax savings: Lower your overall policy costs.
In the LTCi market, you’ll only find two policies with the option for lifetime benefits:
- OneAmerica AssetCare (hybrid policy)
- NGL EssentialLTC (traditional policy)
If we had to compare EssentialLTC to a fictional battery-powered bunny that first appeared in commercials in the early 70s, it’d be the Duracell Bunny. Sure, the Energizer Bunny hogs the spotlight, but Duracell had a bunny first—and it's still quietly chugging along. Just like EssentialLTC’s lifetime benefits, it’s built to keep going…and going.
As you consider your options, let "LTC" guide you: Learn about options, Talk with family, and Create a plan that supports your shared future. If you want to insure for the costs of Alzheimer's care, this policy should be considered in your plan.
Post jargon
benefit: the amount LTCi pays for covered care expenses
benefit period: the maximum time LTCi pays for care after criteria are met
benefit pool: total amount available in LTCi for care expenses
cash indemnity: pays the full benefit, regardless of the actual care costs
death benefit: a payout to a beneficiary from a hybrid policy after the insured passes away
elimination period: the waiting period after criteria are met before benefits start
exclusion: an insurance rule that denies benefits for specific risks
inflation protection: LTCi benefit that adjusts for rising costs
premium: the payment to maintain insurance
rider: an insurance add-on
underwriting: insurer’s review process to decide coverage and cost
➡️ Explore all the LTC jargon
Standard benefits
EssentialLTC also comes with many standard benefits of modern LTCi policies:
- Guaranteed premiums: Your costs can never...go...up (except for the lifetime pay option).
- Guaranteed benefits: Your payouts always match your policy terms.
- Benefit triggers: Coverage starts when you need help with two ADLs or cognitive decline.
- Broad coverage: Includes home health care, adult day care, assisted living, nursing homes, memory care, CCRCs, care coordination, respite care, and hospice.
- Inflation protection (optional): Keeps your benefits aligned with rising costs.
What's special about EssentialLTC?
In a competitive market, policies often include standout features to set themselves apart. Let’s take a closer look at what makes EssentialLTC special.
Lifetime benefits
EssentialLTC is the only traditional policy to offer lifetime benefits.
Yep, this one is a doozie.
Most policies limit the benefit period to 6 to 8 years, but EssentialLTC coverage keeps going for your lifetime.
It’s important to weigh the cost of lifetime benefits, but it might be more affordable than you’d think—especially if you get a joint policy.
Joint policy
EssentialLTC offers two options: an individual policy and a unique joint policy—the only traditional joint policy on the market.
The joint policy differs from buying two individual policies in a few ways:
- Lower overall cost: Joint policies generally cost less than purchasing two separate policies.
- Shared benefit amount rider: For an extra cost, partners can access an additional pool of benefits—providing extended coverage without paying for the lifetime benefit option.
Here's how it works:
- Each partner starts with a fixed benefit period. In this example, we'll use 6 years.
- If Partner A or B uses their 6 years, they can tap into a third, shared pool of an extra 6 years.
In the above example, person A could use 6 years of benefits and person B could use 12 years. This option can help to pay for extended memory care costs.
Premiums won't go up (optional)
Most traditional policies require lifetime premium payments—and those premiums can increase. Nobody likes that. With EssentialLTC, you have two ways to lock in your costs:
- Single-pay: Pay once, and that’s it.
- 10-pay: Spread payments over 10 years, and you’re done.
In both cases, your premiums are locked in and won’t increase. 👍🏼
More tax savings
As a traditional policy, EssentialLTC offers greater tax deduction opportunities. It also qualifies as a partnership policy, which can help protect some of your assets from MedicAID spend-down requirements if you deplete your LTCi benefits.
The details
If this policy sounds intriguing, we'll go down the rabbit hole and share what you need to know.
We rate each policy’s benefits, premiums, underwriting, and company on a three-star scale, with three stars being the best.
Benefits
Benefits are what the policy pays for covered care expenses.
EssentialLTC offers the rare option of lifetime benefits, but its reimbursement payouts are less flexible.
Premium
Premiums are the payments made to maintain insurance coverage.
This policy provides a cost-effective option to cover two people with a joint policy and features guaranteed premiums that won’t increase for single-pay and 10-pay payment options.
Underwriting
Underwriting is how an insurance company evaluates your health and history to determine coverage and pricing.
NGL is widely available and offers fairly standard underwriting.
Company
Choose a top-rated insurer for reliable LTC coverage. We work only with financially strong companies to ensure they’ll be there when it counts.
NGL is a well-established company with a strong rating, but we offer a few insurers with higher ratings.
Comparisons
How does EssentialLTC compare with other LTCi policies? Focus on what matters most to you to make the best policy choice.
Lifetime premium policies
Most traditional policies use lifetime premium payments, so we’ve compared two side by side to highlight their costs and benefits.
Benefits
In this table, you can compare the benefits of all the LTCi policies we offer. You can:
- Search for any detail.
- Tap any column title to sort.
- Scroll right to view more columns. ➡️
Next steps
If this policy seems like a good fit, take the quiz below and include 'EssentialLTC' in the notes section at the final step.
Wrap up
Like the Duracell Bunny, EssentialLTC keeps going and going, providing protection from the unexpected costs that come with long-term care. With Alzheimer’s care that can last 10-20 years, its unlimited benefits are built to handle this significant risk.
Add in the optional return of premium benefit rider and joint policy option, and it’s a plan worth considering.
