There has been much in the news recently about life settlements and people using life insurance policies to pay for long term care services. The Senior Care Life Settlement option is for families looking for alternative ways to pay for Senior Care services, such as Home Care, Assisted Living, or Nursing Home Care using a life insurance policy.
Q Capital has extensive expertise in Senior Care Life Settlements to purchase all forms of life insurance – term life (non-convertible is accepted), group life, whole life, and universal life – with no carrier restrictions. Q Capital works with numerous partners to offer a Benefit Plan with the following features:
- Policy sizes from $50,000 to $1,000,000
- No age restrictions or limits
- No life expectancy reports need to be provided, only medical records
- Targeted to close in 30-45 days
The option for a Senior Care Life Settlement is available in all states where traditional life settlements are available. Some states have recently started passing notification laws to ensure people are informed by the state’s Medicaid Department that this program is an accepted part of a Medicaid spend-down. Numerous states are embracing this program – from Texas (the first state to pass such a law) to Kentucky. In addition, a number of additional states – California, Florida, Maine, New Jersey, and New York – have introduced legislation to promote this consumer rights notification process.
For a few case studies from families that have used our Senior Care Life Settlement program to fund their choice of Senior care, click here.
If you are interested in learning more about a Senior Care Life Settlement, please contact us.