Creative Strategies for Financing Senior Care
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Creative Strategies for Financing Senior Care Suzette Graham Founder and CEO
description
More than 70% of Americans older than 40 aren’t confident that they will be able to finance or make the right decision for long term care and senior living, but there are creative strategies to help older adults finance their new home immediately with your community. For example, more than 17 million veterans are eligible for a pension that helps them pay for care, but fewer than 5% receive it. Many older adults have a life insurance policy that that can be converted to a long term care policy. There are also realtor networks specializing in senior housing and the potential of house deferments – a resource basically untapped in the United States but widely used overseas. Suzette Graham CEO, Angels Consulting Group
Transcript of Creative Strategies for Financing Senior Care
Creative Strategies for Financing Senior Care
Suzette Graham Founder and CEO
Did you know?
▶ 2010 Census: there are 40.3 million Seniors over the age of 65
▶ Jan 1, 2011: Every day 10,000 baby boomers will turn 65 and this will take place for 19 years*
▶ Today there are about 56,150,000 Seniors and over the next 15 years another 54,750,000 will be added
73% of Americans do not know how they are going to pay for Senior Care
Today 41,000,000 Seniors have no idea how they are going to afford your community! *Pew Research Center
Veterans Benefits
Today there are 30.5 Million Veterans and Surviving Spouses
There is a liSle known Pension that is available to them that helps pay for their cost of care and less than 5% are receiving it
The Veteran needed to serve just 90 days acUve duty and 1 day during a designated war Ume
The possible benefit ranges from $1149 to $2120 monthly tax free
It ma-ers who you use to assist your Veterans and their widows
Life Insurance
Seniors in the U.S. currently own $500 Billion Dollars in life insurance*
History shows that 88% of all policies issued will never pay out a death benefit
That is a total of $440,000,000,000.00 in dead assets
Life Insurance can be converted to a Long Term Care Benefit to supplement resident payments into your communiUes
Lets put these dollars to work for your resident!
*Conning and Company research
Long Term Care
8.1 Million Americans are protected with long-‐term care insurance.
Not all policies are the same. Some are more complex than others and restrict certain types of care
AcUvaUng long term care policies has become very difficult to say the least
Many Umes it is a fight on the difference between Nursing care and Assisted
It pays to have a professional company that knows how to navigate the Long Term Care Industry to acUve the policy and manage its ongoing monthly payments
Housing Industry
30% of Seniors own a home outright that needs to be sold prior to moving into Senior care
The value of the home Is a potenUal resource for your client
Unlocking that potenUal depends on a free and clear Utle, realtor experUse, tax planning and impact on other benefits…such as VA or Medicaid
Its all about the plan!!!!!
Angels Consulting Group
If there was only one company that could do all of these services for you!
Angels Consul:ng Group is a full service resource for your clients
Our Ethics are transparent
We have OpUons
We have Resources
We have RelaUonships
We do Follow up
We maximize the assets that the client has to provide for Senior Care
Booth #320
