Instead of focusing on their own retirement and family financial goals, Maria’s adult children were funding her caregiving needs. The life settlement created enough funds to pay for her care and eliminated the burdensome premium payments. Her children were happy they could fund care for their mother and focus on their long-term financial goals.
Policy was underfunded and sitting in an ILIT
Eliminated future premium payments and used the funds for medical bills.
COVID-19 created visitation restrictions for nursing homes
She was able to remain safely at home with proper care.
Donated policy to a charity ran out of cash value to pay premiums
Donor was able to create a living legacy and enjoy seeing the gift used while living.
