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If you or a loved one is looking for ways to finance a senior living arrangement, then using a life insurance policy to help pay for your care may be a very good option.
The Life Care Assurance Benefit Program allows a senior to use a life insurance policy to help pay for long-term care and housing by converting a portion of the policy death benefit into a long-term care benefit that is paid directly to an Emeritus Community.
This benefit can act as a “funding bridge” allowing seniors to move into a senior living community without delay. You can get a far greater value from a life insurance policy by converting it then if you let the policy lapse or by surrendering it back the insurance company.
Many seniors and their families have found the option of the Life Care Assurance Benefit extremely helpful as an alternative source of funding to the hasty sale of a home, securities, or other more dearly held assets during a time of transition into a senior living arrangement.
Here are some of the other benefits to a Life Care Assurance Benefit:
- There is a simple and fast approval process (30 days or less)
- There is no age or policy size minimum
- There is no premium payments or a wait
- All types of life insurance qualify
- Fixed payments are made directly to the care facility
- The first three months of care are paid in advance
- It preserves your partial death benefit
- The benefit can stop and start or be adjusted to match your changing needs
- Skilled nursing, assisted living, home health and hospice care all qualify as long-term care
For more information about this financial solution, inquire at your senior living community or call the Life Care Funding Group at 1-888-670-7773.