No denying it, long term health care is expensive. Medicaid only pays a portion of those bills and if you are a child assisting your parents in paying the remaining amount, the costs could be extremely overwhelming and perhaps even unaffordable. If you require additional funds to make those payments, you should be aware that there is a way to receive immediate cash by selling your parents’ life insurance policies in a life settlement.
With a life settlement, the seller receives a large sum of cash upfront and the purchaser assumes responsibility of paying premiums in order to eventually profit from the policy’s death benefits. The benefit amount is dependent on the policyholder’s life expectancy and the cost of premiums. Understand how a life settlement could be a resource to help pay for your parents’ care.
For many policyowners, education is the key to making decisions that will maximize their assets and provide for their financial goals. To learn more about life settlements and how to offer this valuable option to your clients, visit genesislifesettlements.com or email us directly to talk one-on-one with a Genesis advisor.