Life Insurance Option Can Now Help Pay For Long-Term Care
As of June 2013, eight states have introduced legislation based on Life Care Funding's program as a way to encourage more use of Private Pay for Homecare, Assisted Living, Skilled Nursing and Hospice through the conversion of a life insurance policy into a Life Care Benefit Plan. This funding option is already the legal right of every owner of a life insurance policy in the U.S. but most don’t realize it and are too quick to abandon a policy to jump onto Medicaid. The states that have introduced this ground breaking consumer legislation are California, Florida, Kentucky, Louisiana, Maine, New Jersey, New York and Texas. To learn more about this, read the article in the Wall Street Journal called States Ease Use of Life Policies for Elder Care.