Sisters taking care of their Brother.
Two sisters were caring for their brother with almost full time care and financial assistance. They could no longer provide for their brother’s needs and had been looking for an assisted living community for him. They were given information about Life Care Funding and trading-in his life insurance policy for a Long Term Care Benefit plan. He had a $243,000 group life policy, and he and his sisters decided the best use of the policy was to meet his needs for long term care today. In a short period of time he was able to convert it into monthly benefit payment that would cover his costs of moving into an assisted living community for at least two years. His sisters were the beneficiaries of the policy but they wanted to see their brother’s needs for care on a safe and comfortable environment was more important than any money they might receive in the future.
Assurance Benefit Total – $131,000
Monthly Benefit – $3,200
Benefit Period – 24 months
Death Benefit – $55,000