Trading-in two Life insurance policies cover outstanding balance in arrears and monthly expenses for husband and wife.

The business office of an assisted living community in the Life Care Funding “Trusted Partners” network called about a couple that was currently in residence. They had limited income and were in arrears with a growing unpaid balance. They both have LTC policies but the husband does not yet qualify for benefits to start. They were receiving limited benefits from the wife’s LTC policy but it was not enough to take care of both them.  They applied to trade-in a $75,000 life insurance policy the husband owned and a $35,000 life insurance policy the wife owned for immediate Long term Care Benefit Plans to cover them both. Within 30 days they were approved to enroll with a one-time benefit payment made to satisfy the outstanding balance and then a twelve month benefit period was established to pay for the gap that LTC policy was not able to cover for both of them.

$22,900
Monthly benefit – $1545
Benefit Period : 12 months
Death Benefit: $3750

$12,370
Monthly benefit: $885
Benefit period: 12 months
Death Benefit: $1750