(Add to Favorites | View All Articles | Resource Directory)
|
|
|
Using your Life Insurance to pay for long-term carePaying For Elder Care Just Got EasierIt'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.
MORE RESOURCES: News provided by Yahoo! News and Google News Emotion Runs High as Board Votes to Close Elderly Care Unit - KFVS Liberals promise to improve elderly care - The Kingston Whig-Standard New Film Exposes Bruce Wasserstein and Lazard-linked Elderly Care ... - eMediaWorld.com Newswire Press Release Distribution Service (Press Release) Business showcase: Assisted living facility not too big, or small - Record-Searchlight Call for regulation of elderly care workers after gagging - Wairarapa Times Age Entering a grey area - Bangkok Post |
|
|
|
RELATED ARTICLES
Preventing Alzheimer's patients from losing things Q: My mother is always losing, hiding and hoarding things, I am losing my mind! What can I do to get her to stop?A: This is a great question and I have a lot of material to work with.My grand mother had made me the most beautiful doilies. Breakthrough in Alzheimers Research There is now widespread agreement among research scientists and medical professionals that Alzheimer's Disease (AD) is a problem quickly growing to vast proportions. As the life expectancy of Americans continues to rise, increasing the percentage of the population over 65 years of age, so does the number of Alzheimer's cases. Long-Term Care Insurance is Essential - Why, and what to look for Don't think you need it? Consider this: a full 50% of Americans over the age of 50 will need long term care at some point in their lives. The average cost of nursing facility care (or home health care assistance) is $61,000 per year, and the average stay in a long term care facility is 2½ years. Skilled Nursing Homes and other Assisted Living Arrangements compared A skilled nursing home is a medical facility providing services similar to a hospital. The homes are staffed with licensed nurses, shared rooms, hospital beds, regular scheduled doctor rounds, meals and housekeeping. Angels are for everyone I am reminded time after time of the profound effect Angels have on people. Recently, I have been receiving many emails containing examples of how the Angels are reaching through the veils to assist the elderly. Using your Life Insurance to pay for long-term care 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. Diet may diminish the influence of Alzheimers Argh! Where are my glasses? I put them down . . Staying sane when caring for the disabled Caring full time for a loved one can be a challenging task, and it takes a special person to get the job done right. Patience and compassion are the two top qualities a caregiver must possess in order to be successful. The King's Box of Trinkets The King had a modest kingdom. He was Danish. Prevent many chronic age-related illnesses by adding Protein Youth, it is said, is wasted on the young. Too busy figuring life they hardly take the time to enjoy it. Scaling Down (almost) Painlessly Moving to a smaller house or apartment in a retirement community almost always involves a certain degree of trauma, both for the elder who's moving and for family members. However, by planning ahead you can reduce the discomfort involved and turn what might well become a nightmare into a pleasant event. How to decide if your loved one needs assisted living According to the Administration on Aging, it is estimated by 2030, the older population will more than double to approximately 71.5 million. Long term Care Insurance - Probably the most important asset you could ever own If you're 60 to 70 years old .. Protecting Seniors from Fraud Ruth is 87 years old this year and has been living alone since 1997. She is in good health, however the daily chores around the home became increasingly difficult. Retirement considerations for UK citizens Retiring abroad needs careful planning. Not all countries have the same entitlement to benefits as the UK and your tax liability may be affected. Tennessee DHS Abuse of Seniors - The rest of the story PART I: Physical Abuse of the Elderly vs. Tennessee DHS Abuse of FamiliesDuring the week of October 26, 2003, newspapers across the state of Tennessee published an Associated Press story that featured the glaring news headline, "Reports of neglect and abuse of senior citizens up 40% in six years. Used stair lifts can be safe, reliable, and cost-effective Buying second hand stair lifts is a viable and cost effective alternative to purchasing a brand new stair lift. Most stair lifts can be purchased new or second hand. Adding sparkle to an Alzheimers patient's life Severe degradation of short-term memory means that my father, an Alzheimer's elder, is seldom interested in movies or books. And, although music used to be a source of enjoyment, he no longer listens with pleasure. Colorizing old black-and-white photographs I've just made another Photoshop video. This one is about colour tinting (or "colorizing") an old photo. While standing in line for a prescription... I finally went to the doctor this morning for my bad cold. My appointment was for 9:30 am and yet I didn't get home until after 1:00 pm.
|
| home | site map | articles |
| © 2006 |