Paying For Elder Care Just Got Easier - Answering Service Resources

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Paying For Elder Care Just Got Easier

Paying For Elder Care Just Got Easier

It's not a surprise that thousands of families across the nation are facing the challlenges of an aging population. The "sandwich" generation, those who are caring for their children as well as their parents, have been feeling the financial pinch of caring for loved ones. Paying the high cost of Elder Care can cost a family thousands of dollars a month. Too many families are unaware of how utilizing a loved one's life insurance policy can not only pay for Assisted Living and Nursing Home care, but can maintain the standards of living for the remaining spouse.

Not too many financial specialist inform their clients who have purchased life insurance policies with a death benefit over $250,000 that they can utilize a somewhat unknown option on their life insurance to pay for the high cost of Elder Care. It is called a Life Settlement and it can fully take the financial burden off of families who struggle to keep their loved one in a quality facility.

A policy owner has the right to sell his or her life insurance policy to an institution for signifantly more than the cash value of the policy. For example, a life insurance policy with a $500,000 death benefit and a $75,000 cash value can be purchased for $250,000 and up. This money can be used now to pay for assisted living, nursing homes as well as in home services also. The procedure is relatively quick with minimal paperwork. It is senseless to struggle financially to pay for the needs of elderly loved ones when they can utilize their life insurance policy to pay for care. Many, many times life insurance policies lapse when a loved one goes into assisted living or a nursing home just out of financial neccessity as well as through medicaid planning.

Instead of letting a policy lapse or into surrendership, smart families are looking into life settlements as a funding source for the high expense of Elder Care.

Chuck Bongiovanni, M.S.W. has been helping seniors and their fanmilies for over 20 years in the assisted living industry. Chuck can help your family investigate your options for paying for Elder Care through a Life Settlement. You can go to his website at http://www.LifeTransitionsOnline.com or call him directly at 480-703-7005.

In The News:

Funds Available For Elder Care
Chipley Florida Online Newspaper - Foster Folly News, fl - Sep 6, 2008
The Area Agency on Aging for North Florida, Inc., is announcing the availability of elder care funds in Washington County. These funds come through either ...

Elder care is focus of four programs
Worcester Telegram, MA - Sep 4, 2008
Facilitator: Kris Cloyd, Successful Financial Strategies: Learn about long-term care and other insurance and annuity products. Is long-term care insurance ...

Pioneering Elder-Care Group Celebrates 11 Years of Innovation in ...
MarketWatch - Aug 26, 2008
... pioneered a new, holistic approach to elder-care that focuses on the physical, emotional and spiritual needs of its residents. ...

Scientifically Speaking, 9/7
Denver Post, CO - 5 hours ago
Elder care | Life Care Center of Aurora, an elder care facility, needs volunteers in the areas of administration and activities, flexible to volunteers' ...

More Legal Trouble for Elder Care Operator
MarketWatch - Aug 22, 2008
The type of place that you would want your parents or grandparents to be if they needed care you couldn't provide them yourself," says Long Beach, Calif., ...
Port Angeles' Crestwood among nursing homes names in class action suit Peninsula Daily
Centralia Nursing Home Listed in Class Action Suit Centralia Chronicle
all 33 news articles

Sittercity.com Becomes the First Web-Based Service Awarded the ...
MarketWatch - Sep 3, 2008
"The survey is voluntary; it is not mandated by the health and elder care industry. The process is designed to substantiate credible business practices as ...

Agency targets senior suicides
The Republican - MassLive.com, MA - 7 hours ago
The aim is to educate elder care providers, care givers, and elders themselves. There have been inquiries from councils on aging, elder housing units, EMTs, ...

Center's shutdown highlights elder care problems
Daytona Beach News-Journal, FL - Aug 30, 2008
By ANNE GEGGIS ORMOND BEACH -- Walk through the arching entrance of the Care Center of Ormond Beach and you'll get quite a view of the facility. ...

Meet a San Manuel tribe elder
San Bernardino Sun, CA - 3 hours ago
He will also show samples of basket-making materials, discuss the care and handling of baskets and explain the importance of preserving open lands for ...

Sales vet has new ideas for Kane senior fundraising
Aurora Beacon News, IL - 2 hours ago
Sullivan has held sales management positions with national elder care technology companies, so he knows his job is critical in light of the financial ...

elder care - Google News

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