Another way to pay for long term care.

The benefit program takes a life insurance policy and converts it into real cost payments for a number of senior living options. The hope behind the so-called Life Care Assurance Benefit Plan is that it provides an alternative method of paying for care needs at a time when the budgets of many families are stretched thin.

The current economic conditions have compounded the problems some families face when it comes to paying for the costs of senior living or long-term care. Most people do not realize that a life insurance policy is an asset that they are legally entitled to convert into another form of coverage.

The Assurance Benefit is different from long-term care insurance. According to Life Care Funding Group, there are no wait periods with the new benefit program, nor are there costs to apply or premium payments. The policy owner can convert an “in-force” life insurance policy to enroll in the benefit plan.

The terms of the benefit stipulate that payments are made directly to the care provider or community, that the partial death benefit is preserved, and that the list of qualifying services includes skilled nursing, assisted living, home health and hospice.

The Life Care Assurance Benefit Plan gives people a quick and simple option to convert a life insurance policy’s death benefit into a life care benefit and immediately apply it.

For more information go to Life Care Funding Group.