As the cost of long-term care continues to rise, many seniors and their families are looking for new ways to cover expenses without depleting savings or taking on debt. For those with a life insurance policy, a life settlement could provide a practical, often overlooked source of funds.

How A Life Settlement Can Help Pay For Long Term Care?

A life settlement is a financial transaction in which a policyholder sells their life insurance policy to a third-party funder in exchange for a lump sum of cash. The buyer takes over premium payments and receives the death benefit. In return, the seller receives immediate funds and is no longer responsible for the policy. 

A life settlement could help you unlock immediate cash to help pay for in-home care, assisted living, or medical support—all while simplifying your financial picture in retirement.

Many policyholders are surprised to learn that their life insurance is an asset that may have value today.

Why Use A Life Settlement To Pay For Long-Term Care?

According to Genworth’s Cost of Care Survey, the national median cost of an assisted living facility is over $54,000 per year, and a private room in a nursing home can exceed $100,000 annually. These costs can quickly overwhelm retirement income or savings.

A life settlement can help:

• Cover care costs without liquidating other assets 
• Pay for home health aides, memory care, or nursing support
• Delay the need to draw on retirement accounts or Medicaid
• Reduce the burden on family caregivers

For many seniors, it’s a way to fund quality care nowand use their life insurance policy while they are still alive.

Who Qualifies for a Life Settlement?

You may qualify for a life settlement if:

• You’re typically age 65 or older
• Your policy has a face amount of $100,000 or more
• You’ve experienced a change in health or no longer need the coverage 
• You own a universal life, whole life, variable life, indexed life, guaranteed life or convertible term life insurance policy

Even policies that are about to lapse may still hold significant value.

Finding A Reputable Life Settlement Provider

At LifeRoc, we’ve helped countless policyholders use their life insurance to support long-term care needs. Our process is fast, secure, and focused on getting a great offer for your policy.

Here’s what you can expect:

• A free, no-obligation policy appraisal in just 24 hours 
• Direct access to a large, leading network of funders—not just one potential funder
• No third-party broker commissions, so more money goes to you 
• A simple, fully managed process from start to finish 

With over $20 billion in life insurance face amount settled and 200+ years of combined experience, our team is trusted by policyholders and advisors nationwide.

Start the Life Settlement Process Today

If you or a loved one is facing the high cost of long-term care, your life insurance policy may provide the source of capital you hve been looking for.

Contact LifeRoc today for a free, detailed policy appraisal and find out how much your policy could be worth—before letting it lapse or using retirement savings.

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