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Paying for Long Term Care - Assurance Benefit Allows Use of Life Insurance Policy

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Uploaded on Apr 16, 2011

Emeritus Senior Living has partnered with Life Care Funding Group LLC to educate seniors about the financing options available for covering long-term care, including assisted living.

Emeritus, one of the largest assisted living chains, entered the alliance to raise awareness of the Assurance Benefit offered by Life Care Funding, Portland, Me. The Assurance Benefit converts the death benefit of an active life insurance policy into a long-term care benefit to help pay for long-term care services.

Said Jayne Sallerson, executive vice president of sales and marketing at Emeritus: "Many seniors and families are unaware that their life insurance policies are valuable assets and can be used in this way. And as a result some let active policies lapse.

Frankly this is a policy I was unaware of and we will look to blog further about this in the future. Do your homework as well. Ask your insurance, tax and legal professionals about this.

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