How Do People Pay for Long Term Care?

August 28, 2013 / Chris Orestis

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…

Long Term Care Costs, and Budgeting Advice For Baby Boomers

August 20, 2013 / Chris Orestis

David Bakke is a contributor for Money Crashers and writes about money management tips related to insurance, healthcare, investing, long term care costs, and retirement. Chris Orestis, CEO of Life Care Funding contributed to this article. The cost of long term care nowadays is staggering. The average annual cost of a nursing home is $63,145, a home health aide is $40,040, and homemaker services are $38,896. Partner all that with the fact that many of the government programs we rely on to subsidize these costs are…

Low Consumer Confidence in Funding Retirement Care

December 4, 2012 / Chris Orestis

As published in BenefitsPro By Paula Aven Gladych Most consumers aren’t sure they will be able to cover their long-term care costs in retirement. That lack of confidence increases as people age. A report by The Insured Retirement Institute found that 28 percent of Generation X are confident they will be able to meet their long-term care costs, but only 24 percent of Baby Boomers have the same opinion. “There’s an out-of-sight, out-of-mind mentality regarding long-term care,” IRI President and CEO Cathy Weatherford said. “As…

[Read More...]

Elder Care, Retirement Funding

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…

[Read More...]

Long Term Care, Retirement Funding

Life Care Funding Group Testifies about Long Term Care Funding Options

July 16, 2012 / Chris Orestis

Life Care Funding Group joins expert panel with AARP, NAIC, AHIP/ACLI, and the Academy of Actuaries at Annual Meeting of National Conference of Insurance Legislators (NCOIL) PORTLAND, Maine—The National Conference of Insurance Legislators’ (NCOIL) Health, Long Term Care and Health Retirement Committee held a hearing to discuss what more can be done to help Americans access private funding options to pay for the growing costs of long term care. The members of the legislative panel representing House and Senate members from across the country voiced…

[Read More...]

AARP, Retirement Funding, Senior Issues

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…

[Read More...]

Long Term Care, Retirement Funding

Retirement Benchamrks as Year One of the Silver Tsunami Comes to an End

December 30, 2011 / Chris Orestis

2011 was a benchmark year for the Baby Boomer generation, marking the beginning of the Silver Tsunami. By the time the clock strikes mid-night and we welcome 2012, almost 4 million people in the Silver Tsunami era will have turned 65 years of age. During the 365 days of 2011, ten thousand Americans turned 65 each and every day. 2012 is only the second of a twenty year journey where that pace continues annually until it ends with almost 80 million Baby Boomers crossing the…

[Read More...]

Elder Care, Retirement Funding

Funding Long Term Care and New Legislative Support of Life Policies

November 7, 2011 / Chris Orestis

New Legislation Supports Use of Life Policies to Pay for Long Term Care Cuts to Medicare and Medicaid funding specifically for long term care services coupled with the growing Boomer and senior population of this country are driving the need to fund more and more long term care costs through private pay dollars. Unfortunately, there is a lack of consumer awareness about how Long Term Care funding works and the facts about private market funding options. There is more than $20 trillion of in-force life…

[Read More...]

Long Term Care, Retirement Funding

New Way To Pay for Senior Living Options

August 18, 2011 / Chris Orestis

By Richard Scott News of a novel benefit program at one of the largest senior care providers in the nation should come across as a big event for those involved in providing care for seniors. The benefit program takes a life insurance policy and converts it into real cost payments for a number of senior living options. The provider of the benefit program is Brookdale Senior Living, which developed the conversion policy with Lifecare Funding Group. The hope behind the so-called Long Term Care Benefit…

[Read More...]

Retirement Funding, Senior Issues

1 2

Posts tagged "Retirement Funding"

How Do People Pay for Long Term Care?

Long Term Care Costs, and Budgeting Advice For Baby Boomers

Low Consumer Confidence in Funding Retirement Care

What is Long Term Care?

Life Care Funding Group Testifies about Long Term Care Funding Options

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

Annual Long Term Care Funding Confidence Survey

Retirement Benchamrks as Year One of the Silver Tsunami Comes to an End

Funding Long Term Care and New Legislative Support of Life Policies

New Way To Pay for Senior Living Options

Download "A Survival Guide to Aging" FREE!

Download "Help on the Way" FREE!