Converting a Term Policy instead of abandoning it opens up the doors to assisted living.

A daughter was trying to move her mother into a high end assisted living community but the cost was more than they could afford.  The community informed her that if they had a life insurance policy it could be traded-in for a Long Term Care Benefit.  She said her mother had a $150,000 term life policy that they were not going to keep because the premiums were increasing.  They contacted Life Care Funding and determined that instead of abandoning the policy they could convert it into a Long Term Care Benefit plan that would be able to make a monthly payment directly to the community and her mother was able to immediately move in.

$150,000 Term Life
Assurance Benefit    $37,400
Monthly Benefit $2700
BP – 12 months
Death benefit $5000