Purchasing any life insurance policy after August 1, 2014 and needing medical assistance during your life time you can expect the Wisconsin Estate Recovery Program to take the death benefit money from the deceased persons estate.
The elder is still alive but no longer has the money to continue to pay the life insurance premiums. Life settlement is a process designed to convert the life insurance product in to an asset that can contribute to keeping the household in a sound state.
Elders needing more care due to functional and cognitive deficits will seek to take a cash pay out as a life settlement for their life insurance products. The family of the senior sells the policy in exchange for a cash settlement. The money can now be consumed to maintain the quality of the seniors living situation.
State regulations, State insurance plans, and Health care providers are being required to adjust the way they conduct business in response to Wisconsin consumers living a longer life. Wisconsin can expect to see an increase in requests for cash life settlements. Home Care Path encourages readers to consult with an insurance professional prior to making a change.
Home Care Path celebrates 4 years of successfully serving seniors in South
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Home Care Path www.homecarepath.com and the PATH ALONG model deliver an advanced supportive care service. Helping seniors in the home, with clinic visits, at the hospital, nursing home and assisted living facility. Helping seniors downsize with a move in to an adult child's home. 2014 rates are 20.00 per hour. Simply call 608-432-4286 to schedule an interview. We can be there when you are working. We accept long term care insurance. Services can be tax deductible. Help with resources and the transition from private payment to public funded programming. Valuing home and human life
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