Paying For Elder Care Just Got Easier

Home
>
Elder Care
>
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:

Kirkland nonprofit's nationwide tour stops in Bellevue to educate on elder ...
Kirkland Reporter
She joined forces with two local entities: 3 in 4 Need More, a Kirkland-based nonprofit, and Emeritus Senior Living. Together, they have launched a nationwide senior talent competition to raise awareness of the importance of planning for long-term care ...

Senior care franchises: Slam dunk money makers?
Chicago Daily Herald
By Jim Kendall As Americans continue to age, a senior care franchise that helps Mom and Dad live at home would seem to be a slam dunk way to make money. But nothing is a slam dunk. • Rudy VanDerLaan, for the past two years has served as part owner of a ...

Learn About Elder Abuse
Patch.com
Adult children need to understand that they have to take care of their aging parents. Credit Elder Care Massage This is a true story of a 92-year-old woman who became a prisoner in her own home. After her grandson moved in with her, he started allowing ...

National Association of Professional Geriatric Care Managers Releases ...
Houston Chronicle
The National Association of Professional Geriatric Care Managers (NAPGCM) recently surveyed 2215 US adults age18 and over about elder care and aging issues. The Geriatric Care Manager/Aging study was conducted online by Harris Interactive® via its ...

and more »

3 Reasons Why Card-Carrying Capitalists Should Support Paid Family Leave
Forbes
Employee child care and eldercare responsibilities are not only two major external business challenges, but they become internal issues the minute an employee walks in the door or signs onto his or her computer. In the US, we pride ourselves on our ...

and more »

Nurses recognized at SAGE Eldercare in Summit during National Nurses Week
Independent Press - NJ.com
By Independent Press Last week, nurses at SAGE Eldercare were recognized for their loving care during the twenty-first year of National Nurses Week. This annual event, according to American Nurses Association, is an opportunity for the public to ...

As India's old ways change, senior-care homes are on the rise
Los Angeles Times
More of India's urban families are rejecting traditional extended-family households, so older relatives are increasingly moving into elder-care facilities, an idea long stigmatized in the country. Retirees at an elder-care home in Trivandrum, India.

and more »

LeadingAge Statement on Introduction of Legislation To Support Caregivers From ...
Sacramento Bee
By LeadingAge WASHINGTON, May 24, 2012 -- /PRNewswire-USNewswire/ -- We commend Senator Amy Klobuchar for reintroducing the Americans Giving care to Elders (AGE) Act as a manifestation of her commitment to caregivers and the elders that they serve.

and more »

kjrh.com
Elder care business owner arrested for theft
kjrh.com
A 73-year old Owasso woman who ran an in-home elder care business is accused of using her ex-con son to steal thousands of dollars from an elderly client. The investigation began last fall when a clerk at a drive-through bank in Owasso became concerned ...

and more »

As India's old ways change, senior-care homes are on the rise
Sacramento Bee
India, a nation that prides itself on the inclusive embrace of its extended families, is slowly accepting a feature long common in the West: elder-care facilities. Social changes find more urban families rejecting traditional arrangements involving ...

and more »

Google News