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ALFs

Sample of Participating Long Term Care Companies

Partner Logos


Brooksdale

Gender / Age

Community

Policy Size

Policy Conversion

Monthly Benefit

Benefit Duration

Funeral Benefit

Male / 73

Brookdale at Memorial City

$260,000

$75,000

$1,775

42 months

$5,000

Brookdale Senior Living Success Story

A friend of a resident at The Terrace of Memorial City contacted Life Care Funding to learn more about how a life insurance policy could help with the costs of the community he had moved into since his wife had passed away. The new resident felt their life insurance policy was no longer needed, and was going to allow it to lapse since his deceased wife had been the beneficiary. They learned that the policy could be converted into a Long Term Care Benefit Plan so they decided it would be better to use the policy to help pay for his residence instead of letting it lapse. Once the enrollment was complete, there was enough in his Benefit Account to make monthly payments to the community for the next three and a half years. Instead of abandoning a life insurance policy he had been making premium payments on for years and getting nothing back in return; he was able to convert the policy into benefit payments that will help him remain comfortably at the community for years to come.


Elmcroft

Gender / Age

Community

Policy Size

Policy Conversion

Monthly Benefit

Benefit Duration

Funeral Benefit

Female / 57

Elmcroft Senior Living of Arlington

$150,000

$59,150

$2,100
(one-time payment: $3,750)

24 months

$5,000

Elmcroft Senior Living Success Story

The daughter contacts Life Care Funding concerned that they could no longer afford paying for her mother’s care with her own finances and although her mother was young, she was very ill and could no longer care for herself. Her brother was stationed in Afghanistan and the responsibility to care for her mother and make these decisions was hers. She learned about Life Care Funding from Elmcroft Senior Living and reached out to learn more about converting her mother’s life insurance policy into a Long Term Care Benefit to start making monthly payments and relieve her of the financial responsibility. They made the decision that the Long Term Care Benefit was more important to help address their immediate need to finance her mother’s care, than keeping the policy to collect a death benefit in the future. Paying for her mother’s care out of pocket would be too difficult so they converted the policy and the monthly Benefit payments took over from that point forward.


FiveStar

Gender / Age

Community

Policy Size

Policy Conversion

Monthly Benefit

Funeral Benefit

Female / 73

Tuscany Villa

$100,000

$35,000

$2,000

$5,000

Five Star Senior Living Success Story

A son was living in Key West and his mother was at Tuscany Villa. They had both lived in Detroit most of their lives. The son worked at a marine wildlife exhibition where tourists paid to swim with dolphins and interact with other wildlife. His mother was very happy at Tuscany Villa but was running low on funds. The son had decided to move back to Detroit where he could make more money at his old job than he was making working at the public marine park. The Community Relations Director at Tuscany Villa asked if the mother had life insurance and indeed she had a $100,000 policy. The mother and the son worked with Life Care Funding to convert the policy to a $35,000 long term care benefit that was enough to enable her to stay at the community she loved and prevent her son from having to move back to Detroit and take back his old job to supplement her care. They also preserved a $5,000 funeral benefit.


Emeritus

Gender / Age

Community

Policy Size

Policy Conversion

Monthly Benefit

Benefit Duration

Funeral Benefit

Female / 55

Emeritus at Lakeridge

$200,000

$119,000

$5,600

20 months

$7,000

Emeritus Senior Living Success Story

The daughter had been researching Assisted Living communities for her mother. They had also been looking for financial assistance because the monthly costs were more than they could afford. Her mother owned a life insurance policy and they had contacted the insurance company about accessing the accelerated death benefit. She was young and afflicted with a rare, degenerative condition and could no longer care for herself; but the insurance company denied their claim. Emeritus at Lakeridge told them about Life Care Funding and that they could convert the policy into a Long term Care Benefit Plan instead. They moved forward quickly to convert the policy so that the monthly payments could start right away and they moved their mother into the community so that she could immediately start receiving the care and support she needed.


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