Moving into senior housing or assisted living can offer safety, comfort, and community — but the cost can be overwhelming. For many seniors, the monthly expenses for care, meals, and housing far exceed retirement income, leaving families searching for ways to bridge the gap.
What many people don’t realize is that a life insurance policy can often be a source of hidden value. Through a life settlement, seniors can sell their life insurance policy for cash — turning an unused asset into financial support for care and peace of mind.
What Is A Life Settlement?
A life settlement is the sale of an existing life insurance policy to a licensed provider. The policyholder receives a lump-sum cash payment that is typically much higher than the policy’s surrender value and no longer has to pay ongoing premiums.
This option can allow some seniors to access the market value of their policy and use those funds for any purpose — especially vital expenses like assisted living or in-home care.
How A Life Settlement Can Help Pay For Senior Living
Funds from a life settlement can be used to cover a wide range of care and housing expenses, such as:
- Monthly assisted living or nursing home fees
- In-home caregivers, transportation, or medical support
- Home modifications for safety and accessibility
- Moving costs or deposits for new housing
- General living expenses that enhance comfort and independence
A life settlement can make it possible to choose the right level of care — without depleting savings or relying solely on family support.
Who QualifiesFor A Life Settlement
You may qualify for a life settlement if you:
- Are 65 or older, or younger with a qualifying health condition
- Have a life insurance policy with a death benefit of $100,000 or more
- Own a universal, whole life, variable, or term policy
If you’ve been considering canceling or letting your life insurance policy lapse, it may still hold significant market value.
Why Seniors Choose LifeRoc
LifeRoc is a leading life settlement provider, trusted by financial professionals and policyholders nationwide. With over $20 billion in settled policies, LifeRoc is known for:
- Delivering fast, great offers through our large, leading network of funders
- Providing exceptional service with no third-party broker commissions
- Making the process simple and clear from start to finish
Your Life Insurance Policy Could Be Worth More Than You Think
If you or a loved one is planning a transition to senior housing or assisted living, a life settlement could help cover the cost of care while preserving financial freedom.
Call LifeRoc today for a no-obligation policy appraisal to find out if your policy qualifies and what it could be worth.
Contact us today to learn more about your options. Fill out the form below or give us a call at (833)678-7355 — our team is here to help you every step of the way.
Have more questions? Visit our Frequently Asked Questions Page
Disclaimer: LifeRoc does not provide legal, tax, medical, or financial advice. The information in this article is for educational purposes only. Please consult with a legal professional or financial advisor for guidance related to your specific situation.
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