Planning and Paying For Long Term Care Needs

Paying for care needs as we age can be expensive. According to the 2024 Cost of Care Survey released by Genworth Financial, annual cost estimates for care needs are:

• Nursing Home (Private Room): $127,500

• Nursing Home (Semi-Private Room): $111,325

• Home Health Aide: $77,792

• Assisted Living: $70,800

• Adult Day Care: $26,000

These are median estimates. Location, specialized care conditions and duration of care can significantly impact these costs.

There are multiple options available to clients that are looking to fund care, such as long term care insurance. But, what if your client waits too long to obtain long term care insurance and can no longer qualify? Several other options are discussed in the article below, including selling a life insurance policy. Many people do not know that this option exists.

Read the full article by clicking here:

Planning for Long Term Care Costs

Current Client Example

A 60 year old client with health issues had a $500,000 group term life insurance policy. She had left the company and was not going to continue the policy. We marketed the policy with an opening offer of $110,000. By the time we had finished, the policy sold for $170,000. The money received gave this client more financial security so she could focus on her health and pay for care needs.

We are life insurance settlements brokers, having access to many different buyers, with a fiduciary duty to your clients to obtain the highest amount of money for their policy. We're here to help.