Sample of Participating Long Term Care Companies
Gender / Age
Male / 73
Brookdale at Memorial City
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.
Gender / Age
Female / 57
Elmcroft Senior Living of Arlington
(one-time payment: $3,750)
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.