No, it’s a Long Term Care Benefit Plan administered by a third party on behalf of the insured and family with the payments sent every month directly to the provider of long term care services.
No, it’s a Long Term Care Benefit Plan administered by a third party on behalf of the insured and family with the payments sent every month directly to the provider of long term care services.
No, there are no fees or obligations to apply and no more premium payments due on the policy.
Yes, all Benefit Accounts reserve 5% of the death benefit or $5,000, whichever is the lesser, to provide a funeral benefit payment to the Account’s named beneficiary.
The typical enrollment time is 30-60 days.
Most forms of in-force life insurance qualify including Term, Universal, Whole, and Group. The value of the conversion is based solely on the death benefit, and cash value is not a factor.
Yes, as part of the Benefit Plan enrollment the policy owner will complete a life settlement working directly with a licensed Provider.
Should the enrollee pass away with additional funds remaining in their Benefit Account, the remaining balance is paid directly to the enrollee’s designated beneficiaries. Enrollees and/or their beneficiaries will receive the full Benefit amount even if the client dies before all monthly payments have been made.
Yes, because the policy is sold for its full market value, and the funds are protected in an irrevocable account that is only used to pay for long term care services it is a Medicaid qualified spend-down.
Fill out our free policy calculator today to see if you qualify and find out how much you can get for your policy.
