Many seniors own a life insurance policy they may no longer need or may not want to continue paying expensive monthly premiums on. Your life insurance is an asset you may be able to sell for cash now or convert into a senior living payment stream.
We often obtain a life insurance policy when we are younger and still working, so if the unexpected happens spouses or children still at home aren’t saddled with existing mortgages or other obligations.
But as time passes, kids grow, the home is paid off, your circumstances change. And you may find yourself paying expensive monthly premiums on a policy whose benefit could be used now, instead of later.
If you have a life insurance policy and want to explore a sale for a lump-sum cash payment or conversion into monthly payment stream for senior living, options may be possible. Assisted Living Center has partnered with the experts at Retirement Genius, for priority service and a free, no-obligation review of your life insurance conversion options so you can pay for senior living now.
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Your Policy May Be Eligible for:
1. A Cash Benefit. This is the most common solution. You may be able to sell your policy for a lump-sum cash payment. The buyer of your policy becomes the new owner and takes over all future premium obligations.
2. A Long-Term Care Benefit: Some of your policy’s face value may be able to be converted into a long-term care benefit account to cover the costs of senior living.
3. An Annuity Benefit: You may be able to sell your policy to fund a tax-advantaged annuity that can provide a guaranteed income stream for the rest of the annuitant’s life.
4. Retained Benefit: You can sell a portion of your policy and retain a certain portion of a benefit with no future premium obligations.
Why Trust Retirement Genius?
Trusted by thousands of senior living professionals. Focused on helping seniors and their families.
Helped thousands of families claim what is rightfully theirs for the past fifteen years.
Save hours upon hours of phone calls, emails, long wait times on hold talking to providers you don’t know and who may not understand your senior living needs.
Please Email Us Below for More Information on how a Life Settlement may be helpful to you.