Life Insurance

Though one’s life insurance benefit is intended to be accessed after they pass, in some cases it makes more financial sense to access the funds early and use the life insurance payment to finance long-term care. This may be in the form of an “accelerated death benefit” from the insurance provider, or you may look into selling the policy to a third party for a cash payment. Look into the specifics of your loved one’s policy to see if this option makes sense for your situation.