Family converts term life policy to cover the gap of a long term care insurance policy and move their father to a new assisted living community.

The daughter contacted Life Care Funding because their father was residing at a facility, but the children were not happy with it and wanted to move him.  The costs were going to be higher at the new community, and although he had a long term care insurance policy he did not yet qualify for the coverage to begin.  The community they were looking told them that if he had a life insurance policy too it could be converted into a Long Term Care Benefit plan that would start covering the costs immediately.  The family contacted Life Care Funding to find out if they could trade-in a $150,000 term life policy to enroll in the Long Term Care Benefit plan.  The cost was more than they could afford but they had been told they could trade-in his $150,000 term life policy for a Long Term Care Benefit plan instead of abandoning it.  The policy premiums were going to escalate in the future but instead they were able to quickly convert it into a Long Term Care Benefit plan and move their father to the community where they really wanted him to reside so he could get the 24 hours a day care he required.
Male / 65
Policy Size: $150,000
Policy Conversion: $41,300
Monthly Long Term Care Benefit – $3,300

Funeral Expense Benefit – $5,000