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Archive for category: Retain A Portion Settlement

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Retain-A-Portion settlements are the ideal solution for qualified Policy Owners who need cash now, but still want to secure a portion of their death benefit for their loved ones.

What Is Reverse Life Insurance?

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What is reverse life insurance? All of the secondary market options such as viatical settlements, life settlements, retain-a-portion, and Medicaid life settlements are types of reverse life insurance
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Reverse Life Insurance is sometimes referred to as Life Settlements, but in reality Reverse Life Insurance is much, much more. While Life Settlements allow certain qualified individuals to sell their life insurance policy in the secondary market for life insurance, Reverse Life Insurance also facilitates solutions that allow qualified Policy Owners to receive a cash advance against their life insurance policy (Life Insurance Advance), convert their life insurance policy into an FDIC-secured benefit account to pay for long-term care (Medicaid Life Settlement), or sell their life insurance to pay for treatments and expenses from chronic or terminal illnesses (Viatical Settlements). Reverse Life Insurance even helps qualified Policy Owners sell their Term Life Insurance policies with no cash value (Term Life Insurance Settlement).

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Tap Into Life Insurance

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selling a term life insurance policy
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When reaching the latter years of life, it is important to have certain things in place to maintain the standard of living you are used to, and to have the finances to support paying for home care or obtaining a paid caregiver. When faced with these decisions, there are a number of solutions that may work for you. One solution is selling a term life insurance policy through a reverse life insurance policy or a life settlement, which can give you a peace of mind, and the funds needed to do what you need while ensuring your care is in place.

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Viable solutions for assisted living costs

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medicaid life settlement can pay for aging in place
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AARP shared the story of Patricia McCormack, whose mother was suffering from the initial stages of Alzheimer’s disease. Living in another state, the costs quickly escalated when having to travel to care for her mother, then finding the treatment would most likely include care in a locked memory care facility. These costs were over $108,000. After the treatment, her mother needed to reside in assisted living facility, which was $84,000. Neither the treatment or assisted living facility was covered by Medicaid.

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Paying For Home Health Care Costs

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pay for home health care costs
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With an increasing population of aging Americans who now receive some level of medical care or other assistance in their homes, looking for ways to pay for home health care costs is a key challenge for a growing number of families. Although home health care costs vary among agencies and geographical location, consumers can expect to pay an average monthly cost of $3,813 for 44 hours of home health care provided by a home health aide. Skilled nursing services cost more.

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