11 Feb, 2020, 08:07 ET
SCOTTSDALE, Ariz., Feb. 11, 2020 /PRNewswire/ -- Assisted Living Locators, a nationwide senior care placement and referral service, announced they've partnered with Rehburg Life Settlements, a leading, nationally licensed life settlement brokerage, to provide families with an opportunity to help pay for long term care.
A life insurance settlement is a financial transaction that enables qualified life insurance policy owners to receive a cash payout on their life insurance coverage by selling it to interested buyers.
This first-of-its-kind collaboration offers seniors and their families an alternative funding solution for senior living expenses such as in-home care, assisted living or memory care, according to Assisted Living Locators CEO RN Angela Olea.
"As 10,000 baby boomers turn 65 each day, older Americans face both financial and health care challenges," Olea stated. "Our local senior care advisors are on the frontlines in their communities every day helping guide families to the right care solution that meets their financial needs. By partnering with Rehburg Life Settlements, we can provide our clients with an important alternative funding solution that can help pay for long term care."
"According to the Insurance Studies Institute, 500,000 seniors a year lapse their life insurance policies, translating to over $100 billion in policy value," explained Lisa Rehburg, president of Rehburg Life Insurance Settlements. "That is a lot of potential funds that seniors are giving up, for nothing, each year. Additionally, 90% of seniors who have let a policy lapse would have considered selling it had they known life insurance settlements existed.
We help clients benefit from life insurance policies they no longer need or can afford," said Rehburg. "Life insurance settlements can be a good option for them to benefit from their 'hidden' asset and help them pay for senior living expenses."
Assisted Living Locators offers a no cost, nationwide senior placement and referral service for in-home care, independent retirement options, assisted living, memory care, and skilled nursing facilities. The company has 130 franchisees in 36 states and the District of Columbia and was recently named in Entrepreneur's 2020 Franchise 500® and Franchise Business Review's 2020 Top Franchises Report. To learn more, visit: www.assistedlivinglocators.com.
For more information about Rehburg Life Settlements, visit www.rehburglifesettlements.com.
SOURCE Assisted Living Locators
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