Life Care Funding CEO and spokesperson, Chris Orestis, has been touring the country. Chris has been hopping from one radio station to another teaching people about a little known life insurance opportunity, selling it. Through Life Care Funding, you can end your life insurance payments, and pay for senior care. Every year thousands of seniors throw away their life insurance policies because they don’t know what Life Care Funding can do for them. Senior care can be extremely expensive, and having to pay for both care and Life Insurance payments can put a huge burden on the entire family. With Life Care Funding you can hit two birds with one stone, no more life insurance payments, and no more worrying about care payments. Chris recently brought his tour to the radio station 1380 the Woman, listen to the interview or read the transcription below!
Listen or read the interview below!
1380 The Woman
Kelly: A little bit something for our life with Chris… He’s the CEO of life care funding, so welcome to the show Chris!
Chris: Well thank you so much for having me on, I appreciate it.
Kelly: Thank You, I’m Kelly…
Cassandra: Welcome Chris, I’m Cassandra
Kelly: Oh, I want to let you know who our voices, I’m Kelly
Cassandra: I’m Cassandra
Kelly: And so thank you so much, sorry we didn’t mean to confuse you with, sometimes it, trying to get you to understand who’s who and then you’re sitting there going I don’t know what to say now.
Chris: Well I’ve been looking forward to coming on this show
Chris: So, … is one of my favorite towns and I’m glad to be able to talk to you.
Kelly: Well you know you’re going to help us today and tell us how life insurance can help us while we’re actually you know, living!
Chris: That’s right, what we wanted to talk to you about is using a life insurance while you’re still alive as a way to pay for long term care, senior care, senior living. People that own a life insurance policy, oftentimes they are going to let those policies lapse or they’re going to surrender them because they don’t realize that it’s actually something that they can convert into a long term care benefit that they can use to pay for any type of care that they want. They can use it for home care whether it’s private duty or skilled nursing home care. They can use it to pay for assisted living, they can use it to pay for nursing home care, anything that somebody might want to choose by converting that life insurance policy into a long term care benefit.
Cassandra: And how do they do that?
Chris: Well if you own a life insurance policy, it’s actually an asset and unfortunately for many seniors, they have no idea that this is something that they own and the have the right to be able to convert. And literally millions of seniors around the country every year are letting their policies lapse or they’re surrendering them either because they can’t afford the premium payments anymore, or they’re getting ready to eventually to think about medicaid paying for their long term care and a life insurance policy is going to count against you. So people oftentimes as they’re reaching that long term care point in their life are letting these policies go without realizing it can be in essence traded in for a portion of the death benefit to be used while you’re alive to pay for long term care.
Cassandra: Wow, I had no idea
Chris: So, go ahead, yea
Kelly: Well Now I have life insurance policy and I basically have one right now so if something happened to me you know my home would be paid off my you know my daughter can still go to college and that sort of thing, it’s not huge but you know it can in fact i’ll try not to tell my daughter it’s a half a million because then she might take care of me or something to have that. But it is an expensive, because it’s just basically there to make sure in case you know my kids don’t have to pay for the funeral or anything like that that goes with it. So is there a heavier price in converting you know if you have a life insurance policy that may be a little different… converted, is there a heavier cost to this?
Chris: No actually you know what there is no cost to convert a policy, an existing policy. Any kind of life insurance will qualify to be converted into long term care benefit whether it’s a term life policy, universal life, whole life, even a group life policy that somebody might have kept after they retire. And a lot of people buy life insurance early when they’re young like you to take care of their family in case something happens. But years later and you know the families we work with often times had bought their life insurance policy 20 or 30 years ago and they’ve been paying premiums all those years to keep that policy enforced. They get to the final years of life where they’re looking to go towards long term care, and then they abandon those policies which is a great opportunity for the life insurance companies themselves because when a policy’s abandoned like that they don’t ever have to pay the death benefit so they would have collected
Chris: premiums for years and they’re not going to have to pay any death benefit out. Instead what we’re doing is working with seniors to get the full value of the, the full current value of that policy today, as much as they can get to use to help them pay for long term care instead of just throwing it away and getting nothing in return.
Cassandra: So when you say seniors then what is, Chris the best age to start thinking of doing this because obviously 50 would be too early perhaps so what’s the best age?
Chris: Right this is really a way for people to help take care of an immediate need for long term care, so if you’re in your 30s your 40s your 50s, you might look to purchase either life insurance and or some long term care insurance, but for so many people who don’t purchase long term care insurance but do get life insurance as they get to the point where the need for care is more immediate using that policy then becomes an option that they can go to quickly without any additional cost. They already own the policy they’ve already paid the premiums for years. Once they’ve converted that policy, they’re not going to have to pay anymore premiums going forward. They’ve in essence transferred the asset to get the fully funded benefit today, the asset’s not going to count against them in the future for potential medicaid eligibility, so families that we’re talking to often times it’s heavily skewed towards women. It’s you know, usually it’s 2 out of 3 people in assisted living and in long term care are female and often times the adult daughters are who our companies are talking to along with mom and or dad about how they’re going to address the need to pay for care and they aging will really range. We’ve worked with people who had long term care needs much younger, even in their 50s and 60s or, older into well into their 80s.
Kelly: So Chris, how do people, can they, is there a way to get in touch with you find out you know more about this and making some changes?
Chris: Yea, you know what we encourage families to do, number one if they have a life insurance policy to make sure that before they would ever consider lapsing or surrendering it to look into this option. Everybody who owns a life insurance policy has a right to use this option across the country. Our country specializes in this, we’ve been in business for almost 6 years, and in fact we really pioneered this method of taking a life insurance policy, turning it into a protected long term care benefit account that’s administered to make monthly payments to the care provider of choice. Our company Life Care Funding is easily found either on the internet, lifecarefunding.com is our website. Or our phone number is 888-670-7773. What we always encourage families to do is to do their homework. Do some research, make sure they understand what the cost of cares are, the types of care, what the options to pay for care are, such as ours. And a great resource in today’s world to do that kind of research is online, doing some google searches, looking at companies like ours that specialize in offering an option like this to take life insurance policy convert it into a long term care benefit.
Cassandra: Ok, so Chris, for those listeners who are interested, you can talk to anyone in any age group… they don’t have to just be people who are right now because they’re older and they want to do that, correct?
Chris: That’s right, you know some families that we talk to, they may not be ready for it today, but they thank us for having given them this information, explain to them how it works because they say look, we’re going to hang on to this policy. We were thinking about getting rid of it but if over the next few years our needs change, now we know, hang on to the life insurance policy, go back to a company like life care funding because that policy in essence is money in the bank already to help them pay for long term care.
Cassandra: Ok, excellent advice
Kelly: …Thank you for sharing with us today and giving us some great information, I’m definitely going to look in it, look into it for myself, Thank you
Cassandra: Me too!
Chris: Oh yeah, hang on to that life insurance policy
Kelly: I will
Chris: and we really appreciate being able to come on and talk to you and all of your listeners this evening
Cassandra: Thank you great advice Chris, THank you so much
Kelly: Thank you Chris
Chris: Ok good night!
Kelly: Goodnight! Thank you!
Cassandra: Alright Goodnight!