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.

---

Baby Boomers: Will They Be Able to Afford Their Parents?

Do you worry about whether your aging parents have their... Read More

Long Term In-home Care Options

Are you worried that you may lose all your life's... Read More

What Colour was Your Great-grandmothers Hair?

I've just made another Photoshop video. This one is about... Read More

Stair Lift Buying Guide

There is no doubt that having a stair lift in... Read More

Helping Caregivers Get Comfortable Asking For Help

Becoming a care giver might not have been a conscious... Read More

Scaling Down (almost) Painlessly

Moving to a smaller house or apartment in a retirement... Read More

What You Need to Know About Helping Senior Citizens

IntroductionThe baby boomers is the population which haven taken birth... Read More

New Hope for Alzheimers Treatment

There is now widespread agreement among research scientists and medical... Read More

Assisted Living: Tips on How to Choose a Facility

It is easy to be fooled by fancy drapery or... Read More

Hinged Rail Stair Lifts

If a door at the top or the bottom of... Read More

Prevent or Delay Alzheimers Disease

Argh! Where are my glasses? I put them down .... Read More

Board and Care Homes ? What Are They?

Board and Care homes (also known as RCFE's - Residential... Read More

Strategies on Paying for Nursing Home Care and Medicaid

The decision to place your loved one into a nursing... Read More

Arizona Assisted Living: Resident Rights

According to the Arizona Administrative Code (R9-10-710), those who reside... Read More

The Right Wheelchair Accessories Will Ease Your Life and Your Journeys on Wheels

Wheelchairs come in every shape and size with sufficient options... Read More

Skilled Nursing Homes - What Are They?

A skilled nursing home is a medical facility providing services... Read More

Feeling Lonely?

Q: I hate Alzheimer's disease, not only has it robbed... Read More

Second Hand Stair Lifts

Buying second hand stair lifts is a viable and cost... Read More

When the Box is Empty

The King had a modest kingdom. He was Danish. This... Read More

As the Baby Boomers Age

Many employees today are calling in sick - not to... Read More

Paying For Elder Care Just Got Easier

It's not a surprise that thousands of families across the... Read More

Using The Proper Wheelchair Will Make Your Everyday Life Easier

If you have an injury or a health problem that... Read More

Prepare to Make Long-term Care Choices

Several months ago, I was coming out of a gas... Read More

Assisted Living Facilities ? What Are They?

Assisted Living facilities are generally for person's 60 years of... Read More

Angels Are Reaching Out to the Elderly

I am reminded time after time of the profound effect... Read More

Solitary Confinement -- for Life

Sixty-five year old Arthur Jones served a self-imposed life sentence... Read More

Senior Care for Alzheimer?s

As a person ages, a certain amount of memory loss... Read More

The Golden Years

1) What does Adrian Mitchell say we do to people... Read More

Caregiving Across The Miles?Tips for Successful Long Distance Caregiving

Caring for a parent or a loved one is a... Read More

Whos Gonna Take Care of You When Youre Old?

I finally went to the doctor this morning for my... Read More

Arizona Senior Housing: Care Options for Seniors Who Can No Longer Live Alone

The following are a few of the care options available... Read More

Mom Wont Participate!

Q: Six months ago we placed my mother in an... Read More

Short Trips Can Stimulate Alzheimers Patients

Severe degradation of short-term memory means that my father, an... Read More