Many older Americans who need help with activities of daily living, such as hygiene and medication, have trouble affording the assisted living services they need. Fortunately, there are a variety of alternative funding options available. Many of these options leverage one’s other assets to fund assisted living. <\/p>\n
A life insurance conversion allows policy holders to use their life insurance as income to pay for assisted living. This process can be complex, and is not available with every policy; however, for many life insurance purchases, it can serve as a tax-free loan. <\/p>\n
People who own life insurance policies also have the option of selling their policy with a life settlement or a viatical settlement. Both types of settlements allow the policy holder to sell the policy for more than its surrender value, but less than the death benefit.<\/p>\n
Reverse mortgages allow homeowners to use the equity on their home to receive cash, allowing (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Many older Americans who need help with activities of daily living, such as hygiene and medication, have trouble affording the assisted living services they need. Fortunately, there are a variety of alternative funding options available. Many of these options leverage…<\/span><\/p>\n