Using Your Life Insurance To Pay For Long Term Care

We have no Long Term Care Insurance.  How can I pay for my husband’s nursing home?


A month’s stay in a Hawaiian nursing home can run $10,000 – $15,000.  Having available funds to pay for this care is a real dilemma for many families.  Even if long term care insurance is available, there may be “elimination” time periods, and delays in getting your claim approved.

What can you do to pay for this very expensive care?

  • You may be able to borrow on some life insurance policies
  • Some life insurance policies may be convertible to a long term care benefit and used to pay for home care, assisted living and other forms of long term care. Most people don’t realize this potential source of money. There is no waiting time, care limitations or costs. This death benefit to survivors makes it a living benefit that can help cover expenses for the policy holder. The full death benefit is available, not just the cash value. If the policy holder dies before the benefit runs out, the remaining balance is paid to the family or beneficiary.

Remember, some life insurance policies are assets, don’t let them lapse!

Edwina Lee RN MSN; Crown Care LLC, 808-254-8088



Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s