The Congressional Commission on Long Term Care: Deadline September 12th

August 30, 2013 / Chris Orestis

The Long Term Care Commission Deadline of September 12 is Rapidly Approaching Life Care Funding CEO, Chris Orestis joins panel of experts and submits formal Medicaid Life Settlement policy paper to The Congressional Commission on Long-Term Care The Congressional Long-Term Care Commission will submit final recommendations to the President of the United States and the Congress on September 12th, 2013. Chris Orestis, CEO of Life Care Funding was one of the national experts on Senior Care and Finance to submit a written policy recommendation to…

The Maggie Linton show Features Chris Orestis

August 19, 2013 / Chris Orestis

Maggie Linton From The Maggie Linton Show

The Maggie Linton Show is a critically acclaimed Sirius XM radio show which offers stories about individuals who’ve reached for success and achieved their goals. Part One! Part Two! Part Three! Maggie and Chris had a three part interview which went over much more than just Life Care Funding. Maggie asked some very interesting and difficult questions, allowing Chris to show really what a Life Insurance Settlement…

Avoid Life Insurance Loans and Credit Programs

July 1, 2013 / Chris Orestis

Seniors beware of life insurance loan and credit funding programs that could disqualify you from future Medicaid eligibility. Seniors that own life insurance policies can convert their death benefit into a living benefit to help pay for Senior Care Services. The practice of converting a life insurance policy into a Life Care Benefit has been an accepted method of payment for Private Duty In-Homecare, Assisted Living, Skilled Nursing, Memory Care and Hospice Care for years. Instead of abandoning a life policy because they can no…

How Converting Life Insurance Policies into Long Term Care Benefit Plans Became a Consumer Protection

April 11, 2013 / Chris Orestis

The number of life insurance policies abandoned by seniors these days is staggering. Most are forced to do so in order to become eligible for Medicaid when entering a long term care facility. Insurance companies count on this and collect huge profits as a result of the value of these unclaimed benefits. To protect themselves, seniors need to learn about their rights as life insurance policy owners to discover their options before these critical times arise. A need for consumer protection in this matter has…

Converting Life Insurance into Long Term Care Plan Protects Consumers

October 17, 2012 / Chris Orestis

Consumer Rights Middle class policy owners and their families are caught in the ironically unfortunate position of not being poor enough to automatically qualify for Medicaid, but they are not wealthy enough to access the care they need with enough out-of-pocket funds. In America, the vast middle class market is financially punished for being caught “in the middle” when they reach the point that a loved one requires long term care. When a family has a life insurance asset to work with, the ultimate decision…

Assurance Benefit Policy Conversion as a Consumer Protection

June 11, 2012 / Chris Orestis

Far too many life insurance policies owned by seniors will never pay a death benefit because they are allowed to either expire, lapse or are surrendered for cash value. The shame of this situation for the consumer is that there are numerous options for them to explore before abandoning a policy. Life insurance is legally recognized as personal property, and the owner has the right to use their asset in a number of ways including converting the policy to a long term care Assurance Benefit…

Life Insurance Legal Property Ownership Rights

May 19, 2012 / Chris Orestis

The owner of a policy has the legal property ownership rights to convert a policy based on its fair market value A policy owner’s legal right to convert an existing life insurance policy into a long term care benefit plan, also known as an Assurance Benefit Plan, is not to be confused with a long term care insurance policy, accelerated death benefit (ADB) rider, annuity, or a hybrid life/LTCi product. This Long Term Care Benefit conversion option allows for the actual private market exchange of…

Consumer Information and Choice is Consumer Protection in Long Term Care Funding

March 25, 2012 / Chris Orestis

Too often seniors who have owned a life insurance policy for many years, which is about to lapse or be surrendered for minimal value, will have contacted their life insurance company to ask about their options. The life insurance company will inform them that they really only have two options if they don’t pay their premium: surrender the policy for its cash value (if it has any) or let it lapse. Most people that receive a lapse notice have no cash value because it has…

Florida Legislature Introduces Consumer Protection Disclosure Bill

January 24, 2012 / Chris Orestis

Center for Economic Forecasting and Analysis (CEFA) estimates annual savings from policy conversions over $150 million to Florida Medicaid and Tax Payers Since the National Conference of Insurance Legislators (NCOIL) unanimously passed the Life Insurance Consumer Disclosure Model Law in 2010, states all across the country have been looking at the cost savings impact on stressed Medicaid budgets by converting life insurance policies into long term care benefit plans. The policy conversion option was one of the consumer protection disclosure requirements included in NCOIL’s model…

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Consumer Protection, State Bills

New Disclosure Requirements for Insurers

February 7, 2011 / Chris Orestis

What NCOIL’s Life Insurance Consumer Disclosure Model Act Means Too often when seniors and their families contact their life insurer about their old policies, they are given only three options: surrender the policy for its cash value (if it has any), pay the premium or let it lapse. Most people who receive a lapse notice have a policy with no cash value because it has already been drained by the carrier to make premium payments. That typically leaves a final option of paying the premium…