Senior Care: Discover Innovative Funding Solutions for Long-Term Care

Learn How Your Clients Can Convert Life Insurance Policies to Pay for Services…
The costs and challenges of long-term care are all too real. Roughly 70% of people over age 65 require some form of long-term care and more than 30% will receive some nursing home care in their life time. Nearly 20% of Americans aged 65 will live in a nursing home for at least 1 year, with 5% spending at least 5 years in a nursing facility (Source: Prudential Research Report 2010 — Long-Term Care Cost Study)

And more than one-third (39%) of our American population provides care for a family member (due to chronic illness, disability or aging) during any given year (Source: Pew Research Center)

If your clients are in the midst of caregiving right now, or are planning ahead for the future, it is important to learn more about innovative funding solutions that are emerging. And there may be sources they haven’t even considered.

Do your clients have a life insurance policy? Rather than let it lapse, discover how it may be possible to convert it to a fund that can cover long-term care services.

After years of payments, many policy owners may allow a policy to lapse or choose to surrender it for any remaining cash value. This can be a big mistake when that same policy — including term, universal, whole and group policies — could be converted for a percentage of the face value to fund the costs of senior care. This is actually a buyout of the policy, which means you no longer pay premiums, to transform it into a Long-Term Care Benefit Account.

According to Howard Rubin, owner of Senior Care Funding Options and a professional with more than 30 years experience in long-term care, “For families struggling with the costs of long-term care, this Long-Term Care Benefit program converts life insurance policies into a monthly benefit that pays for any form of senior care including home care, assisted living, nursing home, memory care and hospice.

“The Long-Term Care Benefit is unique because there are no wait periods to qualify, no limitations, no costs to apply, and no premium payments. We encourage all professionals who work with seniors to learn more about this funding mechanism to help their clients with long-term care costs,” Rubin added.


  • What are the life insurance policy options
  • What’s needed to be eligible to convert a policy
  • How this option can create tax advantages
  • How this option applies to different scenarios
  • What are the steps your clients can take

Want to learn more? Lifesprk is working with Senior Funding Options to offer CEU programs on this innovative funding opportunity to health care professionals. Call today to schedule a CEU program for your team: 952-345-8770 or email us.

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