Your Parents' Life Insurance Could Pay for Their Care (with Chris Orestis, Retirement Genius)

Most families walk into an assisted living facility with no long term care insurance, assume Medicare will cover it, and leave with no answers. What they often do not realize is that a life insurance policy they already own could help pay for that care.Chris Orestis, President of Retirement Genius, joins the Direct Insurance Podcast to break down the Big Five private pay solutions for long term care, including the life settlement option that most families and agents have never considered.In this episode:The Big Five private pay solutions every agent and family needs to knowWhy Medicare does not pay for long term care, and what actually doesHow a life insurance policy can be sold while you are still alive to fund careWhy life settlements often pay out more the older and sicker the policy owner isThe difference between surrendering a policy and settling it for its market valueWho qualifies for a life settlement, and what the process looks like start to finishWhy 90% of term life policies are never claimed, and what that means for seniorsAbout the guest: Chris Orestis is the President of Retirement Genius, an information and resource platform that helps people build a well balanced retirement through financial, health, long term care, and lifestyle planning.Connect with us: Website: www.iadbrokerage.com Phone: 800-381-0977 YouTube: www.youtube.com/@iadbrokerage Facebook: www.facebook.com/InsuranceAdvisorsDirect LinkedIn: www.linkedin.com/company/insurance-advisors-direct-agency TikTok: www.tiktok.com/@insuranceadvisorsdirectNew episodes every week. Subscribe so you never miss one.