Dual Assisted Living Conversion Case Study, Emeritus of Lake Point

The business office director at Emeritus of Lake Point, GA contacted us with a family requiring financial assistance for a wife and husband. The wife owned $376,000 of life insurance that they wanted to know if they could trade in for a Viatical Assisted Living Conversion. They were planning to abandon the policies and not sure how they would pay for their care or a nursing home if necessary. Once they were informed that they had the legal right to convert their life insurance to cover costs of long term care, they moved quickly to submit an application. After completing the enrollment process, their Viatical Assisted Living Conversion was worth $104,000 and immediately began to pay for their senior housing and care. With the Viatical Assisted Living Conversion in place, they were able to move into their new community.

Assisted Living Conversion Case Study Example:

Gender/ Age / DOB

Female / 76 / 6/27/1933

Facility: Emeritus of Lake Point Georgia

Policy Size: $376,000

Policy Conversion: $104,000

Viatical Assisted Living Conversion: $5,000

Final Expense Benefit: $5,000

A Viatical Assisted Living Conversion allows the owner of an in-force life insurance policy to convert their policy into a long term care benefit to help cover the costs of Senior Living and Long Term Care. Additionally it can cover costs of long term care or to pay for a nursing home. Once enrolled, the benefit plan is administered on behalf of the family and the benefit payments are made directly to the facility on a monthly basis. A final expense funeral benefit is preserved for every family. Pertaining to families with the need to pay for long term care or elder care that are unable or unwilling to keep their life insurance policy in-force by maintaining premium payments, or are planning to abandon as part of a Medicaid spend down regimen, a Viatical Assisted Living Conversion is often a much better choice.