Maine Lawmaker’s Bill Highlights Novel Option for Affording Long-Term Care

April 29, 2013 / Chris Orestis

Maine seniors and the state’s cash-strapped MaineCare program could both win under new legislation up for debate Wednesday in the Legislature, according to the bill’s supporters. The legislation, sponsored by Sen. Margaret Craven, D-Lewiston, involves an often overlooked way for seniors to pay for long-term care. The bill aims to help some older consumers who, faced with the prospect of paying for expensive assisted-living and nursing facilities, surrender their life insurance policies in order to qualify for MaineCare, Maine’s version of Medicaid. To qualify for…

Life Care Funding Harvard Club Presentation

April 3, 2013 / Chris Orestis

Life Care Funding Group (LCFG) specializes in converting the death benefit of an in-force life insurance policy into a Long Term Care Benefit Plan to cover the cost of skilled nursing home care, assisted living, home health, and hospice.

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Insurance Conversion, Long Term Care

Life Insurance Proposal Gives Families A Financial Lifeline– Florida Public Radio / WFSU

April 3, 2013 / Chris Orestis

Beverley Martin is a nurse who has spent years working in hospitals. Still, she says she wasn’t quite prepared emotionally for when she had to put her elderly mother in a nursing home.

“It was terrifying for one thing. Because, you know, you can be in the business forever, but when it affects someone in your family, you really don’t know where to turn.”

Payment Assistance for Alzheimer’s Long Term Care

March 5, 2013 / Chris Orestis

Wife converts policy so she can move husband from a facility they are not happy with into an assisted living community close to home. Her husband was an attorney but now suffering from Alzheimer’s and unable to care for himself any longer. At first, she had been caring for him at home and then had moved him into a local facility, but for safety reasons she needed to move him to a specific Alzheimer Care community. She had been contemplating tapping into their 401K and…

Sisters Find Financial Help Through a Life Insurance Conversion

March 5, 2013 / Chris Orestis

Sisters taking care of their Brother. Two sisters were caring for their brother with almost full time care and financial assistance. They could no longer provide for their brother’s needs and had been looking for an assisted living community for him. They were given information about Life Care Funding and trading-in his life insurance policy for a Long Term Care Benefit plan. He had a $243,000 group life policy, and he and his sisters decided the best use of the policy was to meet his…

Other Options as Long Term Care Insurers Abandon the Marketplace

December 11, 2012 / Chris Orestis

ProducersWeb.com By Chris Orestis Life Care Funding Group Less than 20 years ago, there were dozens of major insurance companies selling long-term care insurance (LTCI). Today, there are under 30. The paradox is, why, just as baby boomers started turning 65 at a pace of 10,000 per day, is the LTCI market shrinking instead of booming? The list of companies that have abandoned the LTCI market is a who’s-who of insurance industry giants: MetLife, Prudential, AIG (American General), Guardian, UNUM, Allianz and CNA, to name…

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Insurance Conversion, Long Term Care

What is Long Term Care?

November 17, 2012 / Chris Orestis

Seniors and their families are already struggling with the costs of everyday living, if you add the costs of long term care to the picture it is a back breaking scenario for most Americans. A critical element of preparing for the costs of long term care is to understand the variety of “Private Pay” sources that can give you access to funds designed to help them pay for the various forms of long term care. Statistics show that the majority of people do not understand…

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Long Term Care, Retirement Funding

Genworth Plans to Raise Some LTCI Rates 50%

August 6, 2012 / Chris Orestis

By Allison Bell August 1, 2012 Executives at Genworth Financial Inc. (NYSE:GNW) said the company plans to ask for for another round of premium rate increases on in-force long-term care insurance (LTCI) policies. The increases would bring the average total premium increase to more than 50% on “older generation” policies over the next 5 years. The company also is seeking increases that would increase the average premium on an early series of “new generation” policies by more than about 25% over the next 5 years….

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Cost of Care, Long Term Care

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…

Annual Long Term Care Funding Confidence Survey

March 15, 2012 / Chris Orestis

Worker confidence in having enough money to pay for long-term care (LTC) expenses in retirement seems to be rising and falling along with the overall health of the economy. The U.S. economy seemed a little stronger in 2011 than in 2010, and a little weaker earlier this year than around the same time last year. Long term care confidence levels have been moving roughly in sync with overall economic confidence levels. The survey team polled 1,262 U.S. adults over the telephone in January. The sample…

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Long Term Care, Retirement Funding

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Posts tagged "Long Term Care"

Maine Lawmaker’s Bill Highlights Novel Option for Affording Long-Term Care

Life Care Funding Harvard Club Presentation

Life Insurance Proposal Gives Families A Financial Lifeline– Florida Public Radio / WFSU

Payment Assistance for Alzheimer’s Long Term Care

Sisters Find Financial Help Through a Life Insurance Conversion

Other Options as Long Term Care Insurers Abandon the Marketplace

What is Long Term Care?

Genworth Plans to Raise Some LTCI Rates 50%

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

Annual Long Term Care Funding Confidence Survey

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