Innovations in Long Term Care Funding with Life Insurance

This program will review the family dilemma faced by so many – the long-term care, and associated financial and emotional issues needed by a person when they encounter a serious medical issue. When attention is needed, the options are limited as to where the care can be rendered – their personal residence (or a residence of another), an Assisted Care Living facility, or a Skilled Nursing Facility. The cost, advantages and potential problems concerning each site for care will be reviewed. The cost of such care can only be borne in one of three options: personal funds, some governmental entity, or specific insurance. This program will review the qualification rules, and care provided by Medicare and Medicaid. It will review the coverage and provisions of Long-Term Insurance policies that have been available the last 40+ years. The program will conclude with the recent innovations that have emerged in the last 5 years (or so) regarding Living Benefits Riders (or policy provisions) that allow certain insurance contracts to provided advances against the death benefit to fund for the Long-Term Care dilemma.