In-Force Life Policy Review

A life insurance policy can pay for senior care expenses. Long Term Care Benefit converts life insurance into monthly, tax-free payments covering any form of Senior Care.

Instead of lapsing or surrendering life insurance, a policy can be converted into an irrevocable Benefit Account that makes monthly, tax-free payments on behalf of the individual receiving Senior Care. There are no wait periods; no care restrictions; no costs or obligations to apply; it is not a loan; and there is no need for premium payments.

A Long Term Care Benefit is flexible and can be adjusted to meet changes in Senior Care needs; it provides a tax-free funeral expense benefit; and any remaining account balance is paid to the family tax-free. After years of premium payments, many policy owners will allow a policy to lapse or surrender it for any remaining cash value. This is a big mistake when the same policy could be used to pay for the costs of Senior Care.