PA Company Introduces Long-Term Care Benefit Plan To Help Seniors Pay For Long Term-Care

Funding option converts a life insurance policy into a monthly payment stream to cover all forms of long term care

drvince_opt

Dr. Vincent DiLorenzo

PHILADELPHIA, PA. – DR. VINCENT DILORENZO announced today the introduction of an innovative Long-Term Care Benefit as a financial planning tool to help families struggling with the costs of long-term care. The Long-Term Care Benefit program converts a life insurance policy into a monthly benefit that pays for any form of Senior Care including Homecare, Assisted Living, Nursing Home, Memory Care, and Hospice.

Lifetime Horizons, LLC is a company devoted to facilitating the process of life settlement transactions for insured seniors experiencing living and health transitions. One of the biggest challenges families face when confronting long term care is the monthly expenses. For millions of seniors with a life insurance policy they now have an option available to convert a portion of the death benefit to help cover these costs.

Not to be confused with long-term care insurance, an annuity, or a policy loan; the Long-Term Care Benefit is unique because there are no wait periods to qualify, no limitations, no costs to apply, and no premium payments. Instead of lapsing or surrendering a life insurance policy, the death benefit is converted into a “living benefit” in the form of an irrevocable, FDIC insured account that makes monthly payments automatically to the account holder’s choice of care provider. Sometimes compared to a reverse mortgage for a life insurance policy; the account is tax advantaged and a Medicaid qualified spend-down.

“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 instead of lapsing or surrendering their policy”, said Dr. DiLorenzo, President of Lifetime Horizons, LLC, “€œI am thrilled to give people a quick and simple option to convert a life insurance policy’€™s death benefit into a Long-Term Care Benefit and immediately apply it towards their choice of senior care.”

The Long-Term Care Benefit Plan has become an accepted form of payment for every form of Senior Care services across the United States because it pays out the present day value of a policy and keeps the account holder private pay, delaying their need to go onto Medicaid and allowing them to choose the form of care they want.

“€œSeniors don’€™t want to go onto Medicaid and move straight into a nursing home”€, said Dr. DiLorenzo, “and a big advantage of the Benefit Account is that it allows for immediate use, and as care needs change, the plan is flexible in its ability to adjust the monthly benefit amount and move from one form of care to another.”

For more information:
Dr Vincent DiLorenzo
Lifetime Horizons, LLC
800-430-8849
www.lifetimehorizons.com
Email: drd@t-horizons.com

Posted by on Feb 5 2014. Filed under Local News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.











LIKE US
EMAIL SUBSCRIBE

Enter your email address:

DONATE

NEWS SITES

   - CoudyNews
   - 1490 News Blog
   - WESB.com
   - BradfordPA.us Newswire
   - Solomon's Words
   - The Bradford Era



OUTDOOR SITES

   - Allegheny Defense Project
   - Friends of Allegheny Wild
   - Save Our Streams Pa



   Pennsylvania Facts

   - PA is the Keystone State.
   - PA Capitol is Harrisburg
   - Settled in 1643
   - PA Bird: Ruffed Grouse
   - Tree is the Hemlock
   - Flower: Mountain Laurel
   - PA has 116 State Parks


© 2004-2014 Bradford PA Today. News & Information. All rights reserved.

Bradford PA Portal | PennsNews | BigFree Information | Free Web Hosting