ElderAuthority.com

Pay Attention to Filial Support Laws

Twenty-nine states have “filial support laws.”  These laws can be used to make adult children responsible for their parents’ unpaid bills.  While few states use the law, this is starting to change.  As states and long-term care providers within those states find it more and more difficult to wring money from stressed Medicaid programs, they are turning to the law as a way to enforce bill payment.
Pennsylvania Becomes Aggressive
In Pennsylvania, adult… More

Convert Life Insurance to Assurance Benefit (Long-Term Care)

What is the Assurance Benefit?
The Assurance Benefit is the exchange of a life insurance policy for a long-term care benefit plan at the time that long-term care needs to be paid.  The Assurance Benefit is a unique financial option for seniors:

No wait periods
No care limitations
No costs to apply
No requirement to be terminally ill
No premium payments.

Policy owners use their legal right to convert an in-force life insurance policy to enroll in the benefit plan and are able to… More