Trading-in two Life insurance policies cover outstanding balance in arrears and monthly expenses for husband and wife. The business office of an assisted living community in the Life Care Funding “Trusted Partners” network called about a couple that was currently in residence. They had limited income and were in arrears with a growing unpaid balance. They both have LTC policies but the husband does not yet qualify for benefits to start. They were receiving limited benefits from the wife’s LTC policy but it was not…
Posts tagged "Senior Living"
Wife Seeks Financial Assistance for Husbands Senior Home Care
Trading-In a small policy keeps a loved one at home. A wife had been caring for her husband at home on her own. She has been trying to get financial assistance to help with the care of her husband as it was becoming too difficult to care for him any longer. They also owned a life insurance policy they could no longer afford to keep paying premiums and were going to let it lapse. A Geriatric Care Advisor told her about the better option of…
Chris Orestis Interview at Senior Market Advisor VIDEO (part 1) and (part 2)
Chris Orestis Interview at Senior Market Advisor Part 1 // Chris Orestis Interview at Senior Market Advisor Part 2 // I recently sat down with Chris Orestis, a 15 year veteran of both the insurance and long term care industries. Chris spent several years representing the health and life insurance industry as Vice President and Senior Vice President respectively for the Health Insurance Association of America (HIAA) and the American Council of Life Insurers (ACLI). He is an expert on insurance and long term…
Life Care Funding Group Addresses AAHSA Meeting on Long Term Care
Political and economic realities are driving the need for senior care industry to promote private pay options for senior living and long term care For Immediate Release (November 3, 2010) – During an Election Day presentation at the annual meeting of the American Association of Homes and Services for the Aging (AAHSA), Chris Orestis, President of Life Care Funding Group addressed a crowd of long term care and senior housing executives about the financial realities facing the industry and seniors across the United States. Mr….
Brookdale Senior Living Introduces Life Care Assurance Benefit Plan
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…
Senior Housing and Long Term Care Industry Weathering Economic Storm
The Senior Living industry’s growth is driven by a couple of key factors that can trump the impact of a sagging economy: need and numbers. People don’t move into an assisted living community or a skilled nursing home because they want to—they do it because they need to. When the health and safety of a loved one is in jeopardy by living alone, families must take action. Adding to this need driven dynamic is the sheer number of seniors and now Baby Boomers beginning to…
Seniors Find Retirement Solutions in Life Insurance Settlements
The economic downturn has forced seniors that once could rely on selling a home and investment income to pay for the costs of senior housing and care to look for new sources of funding. One funding tool that is rapidly gaining attention is selling an existing life insurance policy in the Life Settlement market. A Life Insurance Settlement is the sale of an existing life insurance policy, while the policy holder is still alive, in a straightforward process that takes 30-90 days. The seller of…
Economic Crisis Discourages Families from Saving for Senior Living
Surveys have found that the economic crisis is discouraging or outright scaring people away from saving for their future needs. Many are looking at the daily headlines and are afraid to put money away and watch it shrink or disappear. Others can not afford to save as they try to keep up with the costs of daily living. Compounding the decline in our nation’s already anemic 1% saving rate is the rise in unemployment and the loss of investment income and home equity. This trend…
Cost of Senior Housing Hit Hard by Wall Street Turmoil
United Press International reports today that the ability of seniors to afford the costs of senior housing and long term care are being hit very hard by turmoil on Wall Street Massive Wall Street losses since its highs less than two years ago have cut many retirement accounts in half, reports University of Illinois Law Professor Richard L. Kaplan. The average costs of staying in an assisted living or skilled nursing property can be quite high; and with the losses on Wall Street combined with…