Chris is in the news again reminding seniors and their families that a life insurance policy can be converted to pay for assisted living, home care, and other forms of long-term care. Life insurance policies are assets like your home and the value of the policy is based on the death benefit (face value), not the cash value. Learn more and don’t go broke if you have a loved one who needs long-term care. Use life insurance to fund long-term care. I encourage you to…
Assisted Living, convert life insurance, life insurance for long term care
Use Your Life Insurance Policy to Pay for Long-Term Care Leaders from the Long Term Care Industry, Life Settlement Industry, and Law Makers Speak Out in Favor of Using Life Insurance to Pay for Long Term Care Using your life insurance to pay for long term care is easy, because consumers have the legal right to convert their life insurance’s death benefit into a living benefit that can be used to pay for Long Term Care services. Homecare providers, Assisted Living communities, Nursing Homes, and…
Assisted Living, Financial Assistance for Seniors, Insurance Conversion, Long Term Care, Long Term Care Cost, Nursing Home, Retirement Funding
How to pay for Elder Care: Homecare, Assisted Living, Nursing Home, Memory Care or Hospice One of the biggest challenges facing seniors and their families today is how to pay for Elder Care, especially the various forms of Elder Care. Elder Care or Senior Care can come in many different forms. There is Private Duty Homecare and Skilled Home Health Care. There is Independent Living, Assisted Living and Continuing Care Retirement Communities. There are Memory Care Facilities, Nursing Homes and Hospice Care. All forms of…
Assisted Living, Elder Care, Health Care for Seniors, Home Care, Long Term Care, Nursing Home
Medicaid Life Settlement Laws Victory! State laws supporting your right to convert a life insurance policy to pay for Homecare, Assisted Living and Nursing Home Care pass around the country So far in 2013, eight states have introduced legislation based on Life Care Funding’s Long Term Care Benefit program as a way to encourage more use of Private Pay Solutions for Homecare, Assisted Living and Skilled Nursing through the conversion of a life insurance policy into a Medicaid Life Settlement Plan. This practice is already…
Assisted Living, Home Care, Life Insurance Settlements, Long Term Care Cost, Medicaid, Nursing HomeFamily 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…
Assisted Living, Cost of CareBrother helps sister trade-in a Federal employee policy to cover costs of assisted living. A brother was trying to figure out how to help his sister pay for the costs of long term care and spend down to be ready to qualify for Medicaid. She had a $38,000 Federal employee life insurance policy that was part of her retirement. They had talked with an assisted living community but it was private pay only so they informed the family that they should look at trading-in their…
Assisted LivingTrading-in a Term policy to pay for assisted living. The daughter contacted Life Care Funding after her father suffered a stroke as a result of complications from advancing Parkinson’s disease. They needed to quickly secure skilled care as he could no longer live alone or care for himself. They could not move him into their home and wanted to get him into a skilled nursing facility near where they live. The cost was more than they could afford but they had been told they could…
Assisted Living, Insurance ConversionA small life insurance policy is traded-in to make up a gap in ability to pay for assisted living. A family was coming up a little short in their ability to pay for their mother to move into an assisted living community. She owned a small, $27,000 life insurance policy and they were going to surrender it for the remaining cash value. The community director told them that they should first contact Life Care Funding to see if they could convert the policy for more…
Assisted Living, Insurance SettlementTrading-In Dad’s life insurance policy pays for Mom’s assisted living care. The family learned about Life Care Funding online and contacted us to see if they could trade-in their father’s $100,000 policy but use the Long Term Care Benefit plan to cover their mother’s care. Both parents had moved in with their daughter’s family and needed assistance with daily living. Their mother’s condition had worsened and they wanted to move her into an assisted living community less than a mile from their home. They were…
Assisted Living, Senior Life InsuranceConverting 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…
Assisted Living, Financial Assistance for Seniors