Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Rising Long-Term Care Costs: How the Life Bridge Benefits Conversion Policy Option Comes into Play

By Life Bridge Subscribe to RSS | August 17th 2012 | Views:

Everybody knows that medical expenses have been going in one direction—up! This has been the case for years; and despite many promises to the contrary, the trend continues. Indeed, the state of health care and long term care in the United States is in complete disarray and uncertainty.

What does this mean to the person without reliable and sufficient long-term care insurance, that is, most seniors and those soon to enter that category? The 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Living, Adult Day Services, and Home Care Costs revealed upward trends in long-term care costs. Some key findings from this MetLife Mature Market Institute survey include:

• An increase in the national average rate for a private room in a nursing home of 4.4% from $229 daily (or $83,585 annually) in 2010 to $239 daily (or $87,235 annually) in 2011

• An increase in the national average rate for a semi-private room in a nursing home of 4.4% from $205 daily (or $74,825 annually) in 2010 to $214 daily (or $78,110 annually) in 2011

• An increase in the national average base rate in an assisted living community of 5.6% from $3,293 monthly (or $39,516 annually) in 2010 to $3,477 monthly (or $41,724 annually) in 2011

• An increase in the national average daily rate for adult day services of 4.5% from $67 in 2010 to $70 in 2011

• The national average hourly rates for home health aides and homemakers in 2011 were $21 and $19 respectively

When these increased costs are combined with an economic downturn, individuals must face the unavoidable question: how will I pay for long-term care? While it is often believed that the lone choice is to buy a long-term care insurance policy, this is not the case. Rather, another alternative exists—the LifeBridge Benefits conversion option.

Unlike home prices, life insurance benefits have not declined in value. Yet, many seniors do not consider a life insurance policy an asset available for use during the senior’s lifetime. The assumption is that the policy will pay proceeds to the designated beneficiaries upon the senior’s demise. What is poorly understood is that an owner of a policy (typically also the insured) has the right to transfer the policy, to change beneficiaries, and to convert the policy during his or her life. Not knowing this, many seniors will struggle to piece together resources to sustain a minimal level of care or fall back on the inadequate care afforded under governmental programs such as Medicaid. They will do so, even though a valuable asset that could finance long-term care, life insurance, is immediately convertible.

Under the LifeBridge Benefits conversion option, you basically surrender your policy and receive in exchange, the right to guaranteed amounts that are paid directly to long-term care health care providers, including home healthcare, assisted living, and nursing home care. The LifeBridge Benefits Plan is available even if your life insurance policy does not have a provision allowing you to convert the policy. Under current laws, you are entitled to exchange your life insurance policy for another asset: the long-term care benefit plan of LifeBridge Benefits.

This opportunity is available regardless of the type of life insurance policy you own—individual or group, term or whole life. Moreover, the opportunity is available regardless of the size of the policy. By going the LifeBridge conversion policy route and exchanging the life insurance policy for a long-term care benefit plan that covers health care needs, you can assure a private sector alternative that can cover the cost of long-term care and puts off, or avoids, entirely reliance on Medicaid.

Life Bridge - About Author:
LifeBridge Benefits offers seniors a distinct, creative opportunity, Long-term care facilities includelong term care benefits, death benefits, life settlement, nursing homes, policy exchange, conversion policy and insurance conversion. Visit to more

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Health Articles Subscribe to RSS

The Way Ladies May Exercise Long-term Birth Control
Published by Chelsea Leis on June 5th 2012 | Health
A female starts on being fertile from puberty, at her peak in her mid-20s, then goes low at 35. Alth...
Clip in extensions – Easy Procedure to get long hairs
Published by Jane Cyrus on April 18th 2012 | Health
Extensions are the best way to give heavy and thick look to your hairs and it is now easily availabl...
Felt fresh and Comfortable all day long by wearing 1-DAY ACUVUE MOIST - the Comfortable Contacts Exclusively at Lenstrade
Published by Lenstrade on July 6th 2012 | Health
1-DAY ACUVUE MOIST Brand gives you exceptional comfort from the moment you put them in, to the momen...
How hair re-growth products help us in the long run?
Published by Justin Mark on December 22nd 2011 | Health
We all know that hair regrowth products are available in the market, for both men and women because ...
Skin care specialist- the best person to help get flawless and beautiful skin
Published by Louise Carala on August 25th 2012 | Health
Skin care specialist in Houston is well skilled to treat patients with even the worst skin disease t...
Various options for the treatment of bronchititis
Published by Justin Bieber on August 25th 2012 | Health
Bronchitis is a problem of the chest in which the walls of the bronchial tubes get inflamed. This pr...
Essentials of eye care
Published by Justin Bieber on August 25th 2012 | Health
All our body parts need care for their normal functioning. In the same way our eyes also need care a...
Probiotic Supplements - How to Choose the Best
Published by Marvin Ferris on August 25th 2012 | Health
The leading probiotic supplements are going to provide you with all of the right ingredients. You sh...
Teeth Whitening Manchester - Procedures for Effective Solution
Published by Julia Roger on August 25th 2012 | Health
Coming to the home remedies recommended by Teeth Whitening Liverpool service providers, using orange...
Spiritual Coaching- Get Enlightened with the Help of a Spiritual Coach
Published by Julia Roger on August 25th 2012 | Health
The main motto of spiritual coaching is to tune a person into the spiritual expedition. A spiritual ...