Case Summary on a 82 year old female

October 22, 2007 | By WebFX

The planned giving professional at anĀ assisted livingĀ facility contacted us regarding this case.Ā  He had a client who could no longer afford the care of hisĀ facility.Ā  She had previously donated her own life insurancy policy to the facility, with the promise to continue making premium payments, which she also could no longer afford.Ā  Seeking creative solutions that would allow his client to stay at the facility, he asked for an evaluation of this charity-owned $1,000,000 universal life policy.Ā  After shopping the marketplace, we determined the fair market value of the policy to be $150,000, which they decided to accept.Ā  The proceeds were used to pay for the clientā€™s care and create a win-win situation for everybody.

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