Convert life insurance policies into a Long Term Care Benefit Plans that can be used to pay for any form of Senior Care

A Long Term Care Benefit Plan is the conversion of an in-force life insurance policy into a pre-funded, irrevocable Benefit Account that is professionally administered with payments made monthly on behalf of the individual receiving care. Instead of lapsing or surrendering a term, universal, whole or group life policy, this option extends the time a person would remain private pay and delays their entry onto Medicaid. It is a Medicaid qualified spend-down and a VA Aide and Attendance qualified Benefit Plan.

The Long Term Care Benefit Plan is a unique financial option for seniors because all health conditions are accepted, and there are no wait periods, no care limitations, no costs to apply, no requirement to be terminally ill, and there are no premium payments. Policy owners have the legal right to convert an in-force life insurance policy to enroll in the Benefit Plan, and are able to immediately direct tax-exempt, monthly payments to cover their senior housing and long term care costs.

Life Care Funding

Life Care Funding was the first to pioneer the concept of converting a life insurance policy into a Long Term Care Benefit Plan. Since the company’s inception, they have built a network of agents, attorneys, and advisors as well as over 5,000 Homecare, Assisted Living and Nursing Home companies that offer the Long Term Care Benefit policy conversion option to families directly across the United States. Life Care Funding has been featured in the Wall Street Journal, New York Times, USA Today, Woman’s World Magazine, Kiplinger’s, and numerous industry trade publications; on CBS, FOX, PBS and Bloomberg TV and radio programs among others; speak at industry events across the country; and has been the model for legislation specifically endorsing the Long Term Care Benefit Plan concept which has been introduced in the state legislatures of CA, FL, KY, LA, MA, MD, ME, NJ, NJ, PA, WA and passed into law in TX and KY.


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