Harbor Life Settlements Partners with Brookdale Senior Living to Offer a Better Private Pay Option
Harbor Life Settlements, a life insurance policy liquidation company, has struck
a partnership with Brookdale Senior Living to make a new private pay option available to
residents who need additional money to pay for long-term care. Called a life settlement, this
private pay option leverages the value in the resident’s life insurance policy, converting it to cash
at a time when it’s needed most.
Long-term senior care is expensive. As aging adults start to consider their options, they are often
faced with the need to liquidate assets in order to afford their choice of senior living options. A
life insurance policy with skyrocketing premiums is usually one of the first things to go. Over
$100 billion* in life insurance policies lapse every year. This is a staggering amount of money
lost, which could have been used to fund long-term care for the policyholders; alleviating worry
and improving the lives of thousands of people.
Seniors Lose Out When Premiums Rise
As adults age, the typical scenario is that income drops and medical expenses increase. Life
insurance companies know that at some point, usually around the age of 75, the two vectors will
cross, and that’s when life insurance companies start to increase premiums exponentially. They
know that it’s that point in time when a policy lapse is most likely. Many seniors find themselves
in the position of not being able to afford to keep up the premiums, so they let the policy lapse.
This means that after years of paying for a life insurance policy, the policyholder gets zero
Harbor Life Offers Seniors a Better Option
According to Lucas Siegel, CEO of Harbor Life, 85% of life insurance policies lapse simply
because the policyholders aren’t aware that there are other options. Rather than struggling to
keep up with ever-increasing premiums, seniors can sell their life insurance policies, often for a
large amount of cash. Harbor Life Settlements helps with this process by working with interested
third parties who are willing to buy the policy. Harbor Life Settlements collects all the necessary
information and aligns with partners to market the policy. The proceeds from the sale are paid
out in a lump sum and funds are available for use at the owner’s discretion.
A life settlement is a very viable way to pay for long-term residential care, but many people
don’t know about it. That’s why Harbor Life Settlements has partnered with Brookdale Senior
Living. The mission of both companies is to educate residents and their families about this
private pay option. Rather than letting a life insurance policy lapse, a better choice is to convert it
to cash and use it for necessary expenses such as long-term senior care.
Harbor Life has set up a dedicated team to work with Brookdale residents and their families.
They’re available to answer questions and help residents figure out if a life settlement is the right
choice for them. They also offer free consultations and will help residents figure out the value of
their own life insurance policy – before the policy lapses.
For more information about Harbor Life Settlement’s partnership with Brookdale Senior Living,
call Harbor Life Settlements at 1-800-981-0610.
About Harbor Life Settlements: Harbor Life Settlements is a life settlement marketing
company that facilitates the sale of life insurance policies for those individuals interested in
selling the policy rather than letting it lapse. Harbor Life Settlements believes that all seniors
should be educated on the cash value of their life insurance policy in order to make educated
choices regarding the disposal of this asset. For more information, visit
About Brookdale Senior Living: Brookdale Senior Living Inc. is the leading operator of senior
living communities throughout the United States. The Company is committed to providing senior
living solutions primarily within properties that are designed, purpose-built and operated to
provide the highest-quality service, care and living accommodations for residents. Brookdale
operates and manages independent living, assisted living, memory care and continuing care
retirement centers. The Company also offers a range of home health, hospice and outpatient
Harbor Life Settlements
+1 (800) 694-0006
email us here
Source: EIN Presswire