Episode 004 – How a life insurance policy can help pay for your senior living expenses
Note – The first 6 episodes were produced under the name Your Business Decision. Beginning Oct. 1, 2017 the podcast was re-branded to Financially Empowered with Ralph Russell.
The cost of senior care living expenses continue to skyrocket. This is truly one area very few plan for until it is often too late. This results in tapping into retirement assets, reverse mortgages, asking your adult children for help, or applying for Medicaid and having to dispose of most of your assets to qualify.
On episode 004 of Your Business Decision, I am joined by one of the leading senior care advocates in the United States, Chris Orestis, EVP of GWG Life. Chris is frequently quoted on the topic of senior issues and has been featured in the Wall St. Journal, New York Times, PBS, Fox Business News and USA Today.
Chris discusses how a life insurance policy initially purchased to protect your loved ones in case you died can also protect your family from a potential financial tragedy, brought on by insufficient funds to pay for long term care.
One key element to keep in mind with the life policy sale/conversion to senior care benefits is there needs to be an imminent need, within 60 days or less, for the senior care, i.e. home health, nursing home, assisted living or memory care.
To see if you or your family members life policy will qualify for senior living benefits, request the free policy analysis by emailing me at email@example.com.
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