The costs of long-term care insurance policies are rising exponentially over general health care costs, rendering many seniors unable to pay premiums and at risk for losing coverage. This piece explores a life settlement as one option to secure funds to prevent this loss and ensure ongoing care.
By 2030, for the first time in U.S. history, our country will have more 65-and-older residents than children. And by 2035, there will be 78 million people 65 years and older, while those under the age of 18 will number 76.4 million.
America is set to hit a new historical milestone. For the first time ever in the United States, the elderly are projected to outnumber children. In 2035, people aged 65 and over are expected to reach 78.0 million, while children under age 18 will number 76.7 million.
It may seem that “that day” will never come—until it does. “That day” is the day one or both of your aging parents requires long-term care. If you haven’t already had the important conversations about what this means and who will be responsible, it can be a much more difficult day than it needs to […]
As life settlement brokers, we know that seniors age 65 and older are leaving huge amounts of money on the table in lapsed and surrendered life insurance policies. That’s why we work so hard with financial advisors to help seniors sell their life insurance policies. A life settlement can provide much needed liquidity for some […]
Long-term care has been a popular topic in the financial advising and insurance worlds for some time now, however, not all financial advisors are familiar with how the need for long-term care can affect a family’s finances.
Let’s be honest: no one wants to spend the holidays in a long-term care facility. It doesn’t matter how wonderful the staff is or how home-like they strive to make the facility feel. The holidays are simply difficult when a loved one isn’t able to be at home - there’s just no way around it.
Making the decision to move a loved one into a long-term care facility is never easy. However, for many families, doing so is a necessity. The care a loved one needs may be beyond that which a family member can provide, or he or she may not be able to live alone safely any longer.
A new report by the National Association of Insurance Commissioners (NAIC) Long-Term Care Subgroup includes life settlements among three options for paying for long-term care. Those of us working in the industry have known for years that life settlements are an excellent option for seniors and their families who are struggling to pay for long-term care.
