Purchasing a Long Term Care Insurance Policy
Should You Consider Purchasing a Long Term Care Insurance Policy?
Yes, You Should Consider It If:
No, You Should Not If:
Long Term Care Health Insurance Terms
Accelerated Death Benefit. This is when a consumer can use a feature in their life insurance police allowing them to use some of their policy's benefits before dying.
Activities of Daily/Selected Living (ADLs). A scale that measures disability or the ability to perform functions of daily living. Often three out of six or two out of five activities. ADLs usually include bathing, moving from one location to another, eating, dressing, going to the toilet, and sometimes cognitive ability.
Adult Day Care. Adult day care provides care during the day for adults, usually at senior or community centers to relieve caregivers. It may be purely recreational or may include occupational and physical therapy. Programs may include meals, transportation, health, and related support services.
Area Agencies on Aging (AAA's). A local (city or county) agency, funded under the federal Older Americans Act, that plans and coordinates various social and health service programs for persons 60 years of age or more. The network of AAA offices consists of more than 600 approved agencies. Call your city or county government for the name, address, and telephone number of the AAA in your community.
Assisted Living Facility. This is a place where consumers can live in a residential living environment when they require and receive assistance with their activities of daily living such as individual personal care and health services.
Board and care homes. Are typically privately operated facilities that provide a room, meals, personal care services, and 24-hour protective oversight.
Care management services. A service provided by a professional, typically a nurse or social worker, who arranges, monitors, and coordinates long-term care services, including health and social services, from multiple providers for an extended period of time.
Cash value (Cash surrender value). The amount available in cash to be borrowed against or obtained in cash if a life insurance policy is canceled.
Chronic illness. An illness marked by long duration or frequent reoccurrence such as arthritis, diabetes, heart disease, asthma, and hypertension. These conditions are also considered permanent, sometimes with disabilities, may require rehabilitation instruction, or long period of supervision and care.
Community-based services. Those services that are designed to help older people remain independent and in their own homes; can include senior centers, transportation, delivered meals or congregate meal sites, visiting nurses or home health aides, adult day care, and homemaker services.
Congregate housing. Operated by many different groups, congregate homes offer independent living with some central facilities and services that can include transportation, recreation, social, and health services.
Conditionally renewable. Policies with this provision are no longer sold, but older policies may still be in force. When a policy is conditionally renewable, an insurance company agrees to continue insurance for an individual policyholder as long as it continues to insure everyone in the same state holding the same kind of policy. This is not a guarantee of continued coverage, and policyholders have better protection with a policy that is guaranteed renewable.
Continuing care communities. Offer housing and a range of health care, social, and other services for substantial initial costs plus monthly fees.
Custodial care. Assistance with bathing, dressing, eating, taking medicine, and similar personal needs. Custodial care can be provided by people without medical skills or training.
Daily benefit. This is a certain amount of insurance benefit dollars that consumers can purchase for long-term care insurance expenses.
Elimination period. The period of time before insurance benefits begin. Friendly visitor. Volunteers who visit the homebound to sit and talk or sometimes to run errands and shop for them.
Guaranteed renewable. A policy that is always renewable as long as premiums are paid. A company may raise premiums for all policyholders within a particular group.
Health Insurance Portability and Accountability Act (HIPPA). This is a federal law that became effective on July 1, 1997 that provides consumers certain protection insurance wise when they have pre-existing medical conditions. It also helps long-term care insurance policies to be qualified for some federal tax advantages or benefits.
Home health care. Includes a wide variety of services that bring care to the home: skilled nursing care, physical and occupational therapy, speech therapy, personal care, and the assistance of home health aides (sometimes referred to as homemakers) with chore services.
Homemaker services. This is a trained professional offering interior home services to a consumer who can no longer complete household tasks themselves such as cleaning, preparing meals, or doing laundry.
Inflation protection. This is when a policy has a built in feature where you are provided more benefit money to help pay for the increased costs of long-term care services.
Long-term care insurance. Insurance that pays for medical and personal services for a chronically ill or disabled person; covered services may include nursing home care, home health care, adult care, and respite care.
Lapsed policy. A policy terminated for non-payment of premiums.
Medicaid. A medical insurance program for low-income individuals that is paid by federal and state funds.
Medicare. A federal government health program available to people over 65 and some other citizens meeting specified requirements.
Medigap insurance or Medicare supplement. Medicare supplement insurance, or Medigap (sometimes called MedSup), is private insurance that supplements or fills in many of the gaps in Medicare coverage. While MedSup policies typically cover Medicare's deductibles and co-insurance amounts, they do not pay benefits for long-term care.
National Association of Insurance Commissioners (NAIC). NAIC is a national organization of the 50 state insurance commissioners for exchanging ideas, information, and coordinating regulatory activities. NAIC has no legal power but exerts a strong influence through its recommendations.
Noncancelable policy. A policy that guarantees the premium will remain the same and the policy stay in force as long as the premium is paid.
Non-forfeiture Benefits. It is a policy feature that gives you partial reimbursement of your premiums when you cancel your policy or you are lapsed in paying the premium.
Nursing home - levels of care.
1. Skilled Nursing is for persons who need intensive care, 24-hours-a-day supervision and treatment by a registered nurse, under the direction of a doctor.
2. Intermediate Care is suitable for persons who do not require around-the-clock nursing, but are not able to live alone.
3. Custodial Care is suitable for many persons who do not need skilled nursing care, but require supervision (for example, help with eating or personal hygiene). Insurance companies' definitions may differ somewhat from the above so check the policy.
Older Americans Act. Federal legislation enacted in 1965, and since amended, to set up a network of state and area agencies on aging which plan, coordinate, and fund local programs of services for persons aged 60 or older.
Period of confinement. The time during which you receive care for a covered illness. The period ends when you have been discharged from care for a specified period of time, usually six months.
Personal care. Assistance given people who need help with ADLs such as dressing, bathing, personal hygiene, grooming, or eating.
Rescind. The insurance company cancels a policy.
Respite care. Offers a few hours to several days of help to family members caring for a homebound person. The care may be provided by volunteers, an institution, or an adult care center.
Rider. An amendment to a policy that modifies the policy by expanding or restricting its benefits or excluding certain conditions from coverage.
Skilled nursing care. Daily nursing and rehabilitative care that can be performed only by, or under the supervision of, skilled medical personnel.
Social Services Block Grant. A federal program established under Title XX of the Social Security Act to fund non-medical services for low-income persons.
Spend Down. When individuals deplete their income and assets and thereby meet Medicaid financial eligibility requirements.
Spousal Impoverishment Act. Rules, which allow the at-home spouse of a Medicaid-eligible nursing home resident to keep a minimum of joint income and assets as, determined by the state.
State Health Insurance Program. Usually you see the acronym of SHIP for this word. It is a federally funded program that trains volunteers to help provide health insurance counseling to senior citizens.
Tax-Qualified Long-Term Care Insurance Policy. This is a long-term care insurance policy that conforms to the federal laws and provides some positive federal tax advantages.
Term life insurance. Insurance protection that pays death benefits to survivors but no cash value buildup.
Third Party Notice. This is when a third person such as a relative, friend, lawyer, or accountant is notified when a relative's, friend's, or client's insurance policy is about to stop due to the lack of premium non-payment.
Underwriting. Classifying applicants for insurance according to their degrees of insurability so that the appropriate premium rates may be charged.
Universal life insurance. A flexible premium life insurance policy under which the policyholder may change the death benefit from time to time (with satisfactory evidence of insurability for increases) and vary the amount or timing of premium payments. Premiums (less expense charges) are credited to a policy account from which mortality charges are deducted and to which interest is credited at rates that may change from time to time.
Waiver of premium clause. A policy provision that continues the policy without premium payment while the subscriber is ill or disabled. Whole life insurance. A cash value life insurance policy that provides level protection for a level premium as long as premiums are paid and includes a savings feature.
Viatical settlement. A transaction in which a life insurance policyholder who is terminally ill sells his or her rights to the policy in exchange for immediate payment of a portion of the death benefits.
Contact http://www.pillarmortgage.com/ to find out more about putting together long-term care provisions to best meet your particular needs.
Servicing: Oakland County, Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
conventional mortgage, reverse mortgage, long-term care, senior care package, family care package, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, Michigan reverse mortgage, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure, distressed property Michigan, jumbo loans, own your home, FHAsecure, refinance real estate, refinance investment property, investment property financing, finance investment property, lower interest rate, interest rate, foreclosure, get out of foreclosure, repair bad credit, restore credit, cash out, cash back at closing, income property, first time buyers, first time home buyer, low income home buyer, credit problems, need cash, finance, refinance, equity, home equity, home equity loan, equity line of credit, insurance, insurance quote, insurance policy, home owners insurance, auto insurance, car insurance, motor cycle insurance, boat insurance, recreational vehicle insurance, health insurance, life insurance, long term care insurance, disability income insurance, annuities, liability insurance, liability coverage, medical insurance, insurance claim, insurance application, adequate insurance coverage
Your greatest financial risk today and in the foreseeable future is not your hospital or doctor bills, but the very high cost of long term care. Over 40% of all Americans over the age of 65 will spend some time in a nursing home due to a prolonged illness or disability. That's almost one out of two. Will it be you or your spouse? Your risk of needing long term care is probably much greater than you realize.
If you are over 62 years old and have assets to protect, but aren't wealthy enough to comfortably pay for long term care out of your savings, let us help you put together the best possible solution for you long-term care needs with our Senior Care Package.
Long-Term Care
Medicaid Friendly Income
Life Insusrance with Long-Term Care Provisions
Annuities with Long-Term Care Provisions
Contact http://www.pillarmortgage.com/ to find out more about putting together long-term care provisions to best meet your particular needs.
Servicing: Oakland County, Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
conventional mortgage, reverse mortgage, long-term care, senior care package, family care package, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, Michigan reverse mortgage, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure, distressed property Michigan, jumbo loans, own your home, FHAsecure, refinance real estate, refinance investment property, investment property financing, finance investment property, lower interest rate, interest rate, foreclosure, get out of foreclosure, repair bad credit, restore credit, cash out, cash back at closing, income property, first time buyers, first time home buyer, low income home buyer, credit problems, need cash, finance, refinance, equity, home equity, home equity loan, equity line of credit, insurance, insurance quote, insurance policy, home owners insurance, auto insurance, car insurance, motor cycle insurance, boat insurance, recreational vehicle insurance, health insurance, life insurance, long term care insurance, disability income insurance, annuities, liability insurance, liability coverage, medical insurance, insurance claim, insurance application, adequate insurance coverage
Reverse Mortgage Misconceptions
1. Reverse Mortgages are only for desperate seniors, or for the "house rich, cash poor." --INCORRECT. The reverse mortgage is an excellent financial planning tool that has been used by homeowners from all walks of life to enhance their retirement years. While some have needed the cash from a reverse mortgage more than others, the growing popularity of this product is evidence of its benefit in a wide array of financial circumstances.
2. Your home must be debt-free to qualify for a reverse mortgage. --INCORRECT. Even seniors with an outstanding first mortgage or some other debt on their home may qualify for a reverse mortgage. The proceeds of the reverse mortgage, though, must first be used to pay off such debts.
3. The Bank owns the home after you get a reverse mortgage. --INCORRECT. You own your home and retain title throughtout the life of the reverse mortgage. Once you permanently move out of your home or pass it to your estate, the loan must be repaid.
4. When a reverse mortgage comes due, the bank sells the home. --INCORRECT. When the loan must be repaid, you or your heirs can either pay the balance due on the reverse mortgage and keep the home, or sell the home and use the proceeds to pay off the reverse mortgage.
Ted Lewicki of Pillar Financial Services specializes in reverse mortgages for seniors. He will be happy to come to your home for a relaxed conversation about your options. A reverse mortgage is a type of home equity loan that allows you to convert some of the equity in your home into cash while you retain home ownership. Rather than making a payment to your lender each month, the lender pays you. Unlike conventional home equity loans, most reverse mortgages do not require any repayment of principal, interest, or servicing fees for as long as you live in your home. Funds obtained from a reverse mortgage may be used for any purpose, including health care, housing expenses, taxes and insurance, fuel, and maintenance costs. http://www.pillarmortgage.com/
Servicing: Oakland County, Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
conventional mortgage, reverse mortgage, long-term care, senior care package, family care package, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, Michigan reverse mortgage, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure, distressed property Michigan, jumbo loans, own your home, FHAsecure, refinance real estate, refinance investment property, investment property financing, finance investment property, lower interest rate, interest rate, foreclosure, get out of foreclosure, repair bad credit, restore credit, cash out, cash back at closing, income property, first time buyers, first time home buyer, low income home buyer, credit problems, need cash, finance, refinance, equity, home equity, home equity loan, equity line of credit, insurance, insurance quote, insurance policy, home owners insurance, auto insurance, car insurance, motor cycle insurance, boat insurance, recreational vehicle insurance, health insurance, life insurance, long term care insurance, disability income insurance, annuities, liability insurance, liability coverage, medical insurance, insurance claim, insurance application, adequate insurance coverage
You've worked hard to provide for your family and to build your nest egg. But what will happen to your assets when you try to pass them on? You may believe your Will takes care of this transition for you, but a large value of your estate may be lost to death taxes and estate settlement expenses.
Illinois Mutual has designed two unique Whole Life policies with the Mature Market in mind - Simplified Issue Whole Life & Single Premium Whole Life - that can assist you in making a tax efficient transfer to your desired beneficiary.
Simplified Issue Whole Life is an annual premium policy that provides guaranteed premiums and death benefits. This policy would be ideal for those who wish to provide a grandchild's college education, finance home improvements, reduce credit or mortgage obligations, fund a new business or pay for final expenses and taxes.
Single Premium Whole Life offers all the advantages of traditional whole life with the payment of a one-time premium. This policy would be ideal for those whose financial goals include gifting, charitable giving, trust creation, estate planning or wealth transfer.
Both policies are for issue ages of 45 to 85 and include an Accelerated Benefit Rider* at no additional premium. This rider provides access to policy funds for financial needs that arise from terminal illness or nursing home confinement.* Both products are non-illustrated, with guaranteed face amounts and guaranteed cash values and can be issued with a death benefit as low as $5,000.
Ted Lewicki is the president of Pillar Financial Corporation located in Waterford, Michigan. Ted will help you analyze your financial situation and customize a plan that works for your family's life insurance needs. Find out more at http://www.pillarmortgage.com/
Servicing: Oakland County, Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
conventional mortgage, reverse mortgage, long-term care, senior care package, family care package, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, Michigan reverse mortgage, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure, distressed property Michigan, jumbo loans, own your home, FHAsecure, refinance real estate, refinance investment property, investment property financing, finance investment property, lower interest rate, interest rate, foreclosure, get out of foreclosure, repair bad credit, restore credit, cash out, cash back at closing, income property, first time buyers, first time home buyer, low income home buyer, credit problems, need cash, finance, refinance, equity, home equity, home equity loan, equity line of credit, insurance, insurance quote, insurance policy, home owners insurance, auto insurance, car insurance, motor cycle insurance, boat insurance, recreational vehicle insurance, health insurance, life insurance, long term care insurance, disability income insurance, annuities, liability insurance, liability coverage, medical insurance, insurance claim, insurance application, adequate insurance coverage
LifeFund
Why LifeFund?
You want to focus on building a long, healthy, successful life. But sometimes you face uncontrollable events that interrupt your plans: heart attacks, strokes, cancer, accidents, even death of your spouse or child. While you can't always prevent these tragedies, LifeFund helps control their effect on your life. More than life insurance, LifeFund is a product series that protects and provides during your most dramatic life events - critical or chronic illness, disability, retirement, and death.
Taking care of your family
If you should die, a death benefit is paid to your beneficiaries. There is also a benefit available should your spouse or child die prematurely.
LifeFund provides you with a pool of money that helps cover financial catastrophes brought on by critical or chronic illness or disability. Surviving these events could affect your ability to maintain your lifestyle and your quality of life.
You receive CASH benefits that you can use for anything from mortgages and medical bills, to groceries and car repairs. Based on diagnoses, benefits need not coordinate with other insurance plans. Better still, during the time of illness, Allianz waives your premium (subject to limitations).
Building a fulfilling retirement
LifeFund lets you look forward to a happy retirement, while protecting you if you become disabled during these years.
LifeFund offers a retirement income stream that you cannot outlive, with enhanced retirement values - up to triple the policy's net cash value.
Post retirement disability
Your retirement income payments increase for qualified partial disability, and even more for total disability. Payments will be made as long as your disability persists.
Why Not Electronic Transfer?
LifeFund offers the Automatic Payment Plan through Electronic Fund Transfer so that you may build financial protection simply and conveniently. It's easy. Premium payments are taken directly our of your bank account before you ever see it, so you won't ever miss it. All you do is sign up for Automatic Payment Plan EFT and let LifeFund do the rest.
$500,000 Lifefund Example...
Male age 35...Preferred... Annual Cost...$1,340...$500,000 Bucket of Money with 1st premium
Ted Lewicki is the president of Pillar Financial Corporation located in Waterford, Michigan. Ted will help you analyze your financial situation and customize a plan that works for your family's life insurance needs. Find out more at http://www.pillarmortgage.com/
Servicing: Oakland County, Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
conventional mortgage, reverse mortgage, long-term care, senior care package, family care package, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, Michigan reverse mortgage, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure, distressed property Michigan, jumbo loans, own your home, FHAsecure, refinance real estate, refinance investment property, investment property financing, finance investment property, lower interest rate, interest rate, foreclosure, get out of foreclosure, repair bad credit, restore credit, cash out, cash back at closing, income property, first time buyers, first time home buyer, low income home buyer, credit problems, need cash, finance, refinance, equity, home equity, home equity loan, equity line of credit, insurance, insurance quote, insurance policy, home owners insurance, auto insurance, car insurance, motor cycle insurance, boat insurance, recreational vehicle insurance, health insurance, life insurance, long term care insurance, disability income insurance, annuities, liability insurance, liability coverage, medical insurance, insurance claim, insurance application, adequate insurance coverage
We offer more than mortgages; we also offer financial services, investment and retirement products, and all insurance needs including home, car, life, boat, RV, annuties, liability, business and more.
Hi, my name is Ted Lewicki and I have been an insurance agent since 1961. I have been married 37 years with five children and one son in the U.S. Navy. I have been in the same location for 27 years. I also own Pillar Financial Corporation dba Pillar Mortgage, which specializes in reverse mortgages for seniors.
As an Independent Insurance Agency, A-1 Insurance, located in Waterford Michigan, is able to represent a variety of insurance companies to better serve your Insurance needs. For more information click on a link below or call us at 248-674-0355!
Residential CommercialWe are affiliated with Pillar Financial Corporation, providing all your mortgage financial needs including Conventional, FHA, and Home Equity Loans. Pillar also specializes in Reverse Mortgages for seniors age 62 and older, allowing access to equity in their home without a single payment. See www.pillarmortgage.com for further information.
I am the President of Pillar Financial Corporation and have been in the mortgage business for 17 years. I also have 43 years in the insurance business, starting out on a debit in Detroit for Metropolitan Life Insurance Co. Since then I have been an AAA agent for 12 years and have been working as a Farmers Insurance agent for 25 years. I have been working within the community for all of these years dealing face to face with people of all ages and occupations. I am a family man with a wife and 5 children and I can relate to a multitude of scenarios. I have built my reputation on honesty and trust - backed by sincerity, dedication, and plain old hard work. I would be happy to help you define and achieve your financial goals.
Mr. Hutton is 74 years old and his wife is 72 years old. Their home has been appraised at $300,000 and they own it free and clear of mortgage. They qualify for a reverse mortgage and are eligible for a lump sum of cash in the amount of $138,000 or a guaranteed income of $900 per month for as long as they live in their home. If they purchased an annuity with the cash, they would receive $960 per month for the rest of their lives wherever they live. If they choose to receive the money from their reversed mortgage in the line of credit option, the unused portion would grow at the same rate as their loan balance. They would receive the interest earned on a monthly basis ($675) or on an annual basis ($8,400) and still have the $138,000 available as reserve. They can also mix or match those options to provide them with the most appropriate solutions for their needs. Regardless of which option they choose, the reverse mortgage provides several practical options to fund either their long-term care insurance policies or their long-term care services. The Senior CARE Package provides both of the products in one!
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