Son helps his mother trade-in policy and move into assisted living before he deploys for Afghanistan.
A family was struggling with how they would pay for the costs of moving their mother into an assisted living community. Increasing the pressure was the fact that her son was going to be leaving for Afghanistan within 90 days for a tour of duty with the military. Their mother owned a $95,000 life insurance policy that was going to lapse if they did not immediately make an expensive premium payment. The family was trying to determine what all of their options with the policy might be, but had grown frustrated from dealing with the insurance company. The assisted living community suggested that they contact Life Care Funding to discuss options and consider trading-in the policy for a Long Term Care Benefit plan. Before the policy could lapse, Life Care Funding converted the policy into a benefit plan that allowed them to immediately move their mother into the community. There was still time for her son to help her move-in and get settled before he left for Afghanistan later that month.
Monthly Benefit – $2067.50
Benefit Period – 15 months
Death Benefit – $5000