By Donna Horowitz // The Deal // Apr-15-2014 ET
Chris Orestis, CEO of Life Care Funding has written a 230-page e-book on the use of life insurance policies to pay for long-term care.
The book, “Help on the Way,” came out Monday, April 14, and has been published by Vook Inc (http://ebook.lifecarefunding.com/).
Orestis, who runs a Portland, Maine-based company that helps people convert their policies to cover stays in long-term care facilities, has lobbied extensively in the states to encourage passage of laws allowing people to sell their policies without losing their Medicaid eligibility.
He said the book is designed for professionals such as insurance agents, financial advisers and accountants as well as members of the public.
It includes information on the legal rights of policy owners, the differences between Medicare and Medicaid, tax issues and legislative activity in the states as well as testimonials of families who have used policies to pay for assisted living or nursing home care, Orestis said.
One of the testimonials is about a daughter discussing how her father was able to use his policy to pay for his care until he died. The e-book includes videos of families’ stories. Orestis said he also has links to the 25 or so radio interviews he did about the topic.
There is no charge to buy the book, which ultimately may be printed in soft or hard cover. “I didn’t do this to make money. I did this to spread the word to the public, to the agents about the fact that people can use life insurance to pay for long-term care,” Orestis said.
Since he put out a press release on his book’s release on Tuesday, he’s been notified that there were 40 to 50 downloads of it that day. He said Vook, his New York-based e-book publisher, will distribute the book on Amazon, iTunes, Barnes & Noble, Google and other outlets. Orestis said his book went to No. 5 on the Amazon top 100 best-selling books in the retirement planning category on Tuesday, April 15.