Non Insurance Planning

Non Insurance Planning Products to Consider

Non Insurance Planning Products to Consider

These types of products are not traditional insurance products, but
should be considered in a long-term care plan if traditional
products are not an option.

Coming Soon…

Life Insurance Policy Conversion

LIFE INSURANCE POLICY CONVERSION

CONVERT LIFE INSURANCE POLICIES INTO LONG TERM CARE BENEFIT PLANS
THAT CAN BE USED TO PAY FOR ANY FORM OF SENIOR CARE

A Long Term Care Benefit Plan is the conversion of an in-force life
insurance policy into a pre-funded, irrevocable Benefit Account that
is professionally administered with payments made monthly on behalf
of the individual receiving care. Instead of lapsing or surrendering
a term, universal, whole or group life policy, this option extends
the time a person would remain private pay and delays their entry
onto Medicaid. It is a Medicaid qualified spend-down and a VA Aide
and Attendance qualified Benefit Plan.

The Long Term Care Benefit Plan is a unique financial option for
seniors because all health conditions are accepted and there are no
wait periods, no care limitations, no costs to apply, no requirement
to be terminally ill and there are no premium payments. Policy
owners have the legal right to convert an in-force life insurance
policy to enroll in the Benefit Plan and are able to immediately
direct tax-exempt, monthly payments to cover their senior housing
and long term care costs.