Learn How You 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 oflong-term care and more than 30% will receive some nursing home care in their life time. Nearly 20% of Americans age 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 you or a loved one 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 you haven’t even considered.
Do you or your loved one have a life insurance policy? Rather than let is 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.
Want to learn more? Join us for a special educational presentation . . .
Funding Solutions for Senior Living:
Convert Life Insurance to Pay for Long-Term Care
Wednesday, April 23, 2015
Refreshments – 2:00 pm
Presentation – 2:15 pm
Thursday, May 15
Refreshments – 6:30 pm
Presentation – 6:45 pm
Parkwood Community Room
At Parkshore Senior Campus
3663 Park Center Blvd
St. Louis Park, MN
- What are your 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 you can take
Free & Open to the Public
RSVP to Lifesprk Navigation
952-345-8770 or email us
Brought to you by Lifesprk’s Education Center for Life Care Solutions
Our Education Center is dedicated to bringing you relevant and practical information from a wide range of resources and speakers to help you live a sparked life.