Program converts a life insurance policy into a senior living or long term care benefit plan

PORTLAND, Maine—Brookdale Senior Living and Life Care Funding Group announced today the introduction of the Life Care Assurance Benefit Plan to Brookdale’s communities across the United States. The program converts a life insurance policy into a benefit that will pay for the costs of senior living or long term care.

One of the biggest challenges families face when moving into a senior living community is the monthly expenses. For millions of seniors with a life insurance policy, they now have an option available to convert a portion of the death benefit into a benefit that can cover these costs. “Brookdale is committed to providing the best possible living environment in our communities, and one way we can do that is by reducing the stress of finances for families as much as possible,” said Ron Aylor, Senior Vice President of Sales. “The Life Care Assurance Benefit is another financial solution we can provide to families.”

Not to be confused with long term care insurance, the Assurance Benefit is unique because there are no wait periods to qualify, no limitations, no costs to apply, and no premium payments. Policy owners use their legal right to convert an in-force life insurance policy to enroll in the benefit plan and are able to immediately direct payments to cover their housing or long term care costs. Applying for the Assurance Benefit Plan is a simple process to complete with the first benefit payments being issued in less than thirty days.

Benefits of the program for consumers include;

• Simple application and review process
• No age or policy size minimum
• No premium payments
• All types of in-force life insurance qualify
• Payments made directly to care provider/community
• Preserves partial death benefit
• Skilled Nursing, Assisted Living, Home Health and Hospice all qualify

“The current economic conditions have compounded the problems some families face when it comes to paying for the costs of senior living or long term care. Most people do not realize that a life insurance policy is an asset that they are legally entitled to convert into another form of coverage,” said Aylor. “The Life Care Assurance Benefit Plan gives people a quick and simple option to convert a life insurance policy’s death benefit into a life care benefit and immediately apply it toward covering the costs of residing in a Brookdale community.”
About Brookdale Senior Living:
Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The company owns and operates independent living, assisted living and dementia care communities and continuing care retirement centers with 559 communities in 34 states. Brookdale is committed to providing exceptional living experiences within communities that are purpose-built, designed and operated to help residents live well while achieving an Optimum Life®. Brookdale Senior Living communities provide a daily experience of programs, services and care that are unique as a result of the collective talents and inspiration of the residents, their families, and their associates – demonstrating Brookdale’s promise of “Our People Make the Difference.” Brookdale is a publicly-traded company (NYSE: BKD). For more information, visit www.brookdaleliving.com

About Life Care Funding Group:

Founded in 2007, Life Care Funding Group (LCFG) assists people in need of funds to cover the costs of senior housing and long term care. Working with over 3,000 Senior Living and Long Term Care providers in the U.S., LCFG specializes in converting the death benefit of an in-force life insurance policy into a long term care benefit to cover the costs of skilled nursing home care, assisted living, home health care, and hospice.