Guidelines
SEE IF YOU QUALIFY WITH A FREE CONSULTATION
- NO Age Minimum
- NO Policy Size Minimum or Maximum
- Policy in-effect a minimum of 24 months
- Any form of life insurance can qualify
Q: Can a life insurance policy be used to pay for the costs of Senior Housing and Long Term Care?
YES! If a policy owner no longer needs, or can no longer afford a life insurance policy, and is considering
letting the policy lapse or surrendering it for the cash value - then cashing in a policy through a Life Settlement
or the Life Care Assurance Benefit is the right answer.
Q: What is a Life Settlement?
A: A life settlement is the sale of an in-force life insurance policy by the policy owner to a third party
Q: What is the Life Care Assurance Benefit?
A: For the owner of an in-force life insurance policy, the Life Care Assurance Benefit program covers the costs
of Senior Living and Long Term Care while preserving a death benefit.
Q: Are there any restrictions to liquidate a life insurance policy?
A: A life insurance policy is personal property and the owner is free to transfer ownership for the highest possible value without any restrictions as it is not a loan, nor a government subsidized program, or a long term care insurance policy.
Q: Am I responsible for paying the premiums after I have settled a life insurance policy?
A: No, the entity that purchases your policy will be responsible for paying the premiums and you will be relieved entirely of that responsibility.
Q: What are the rights of a policy owner?
A: A life insurance policy is legally protected as personal property and the policy holder has the guaranteed right to manage and sell their ownership interest in a life insurance policy without limitations-- and at the highest possible value. All insurance policy owners have the following rights:
- Name the policy beneficiary
- Change the beneficiary designation
- Sell the policy to another party
- Assign the policy as collateral for a loan
- Borrow against the policy
Q: How does a Life Settlement compare to other funding options for seniors?
A: A Life Settlement offers a lump sum payment based on the life expectancy of the policy owner and the value of an existing policy in exchange for transferring 100% of the death benefit to the buyer. There are no restrictions on use of funds, no requirement for re-payment, no upfront fees, no requirements to be below set asset and income levels.
Q: How does the Life Care Assurance Benefit compare to other funding options for seniors?
A: The Assurance Benefit allows a policy owner to use the policy to pay for the costs of Senior Housing and Long Term Care directly to the care provider while still preserving a death benefit.
- Senior Living benefit paid directly to care facility/provider
- First three months paid in advance
- Preserves a death benefit over the course of the payout period
- Provides for a final expense death benefit payment
- No policy size or age minimum
- Can be used for Skilled Nursing, Assisted Living and Home Health Care
CONTACT US TODAY TO SEE IF YOU QUALIFY FOR A LIFE SETTLEMENT WITH A FREE CONSULTATION