Long Term Care

Mortgage Services Inc.

Thom Bouis, Loan Officer, Rockwall, TX

Long Term Care

Did you know that you can use proceeds from a reverse mortgage to fund a long-term care annuity? When coupled with a life insurance policy it is possible to somewhat "have your cake and eat it too."

In simplest terms it works like this - - a long-term care annuity is lump-sum funded and is coupled with a life insurance policy that is also lump-sum funded. If one outlives the payout period of the annuity, the bundled life insurance can pre-pay - - continuing to pay for long-term care expenses. Whatever amount is left from the life insurance pre-payment, the beneficiaries can then use to pay down the accumulated reverse mortgage balance and it may be enough (if properly sized) to fully pay it off. By this means the senior citizen has first been relieved from a mortgage payment and perhaps gained expendable funds and or some lifetime income, enjoyed the benefits of a long-term care annuity and then had the balance of remaining life-insurance pay off part or possibly all of the accumulated balance of the reverse mortgage that was used to fund long-term care annuity and life insurance.

The net result is that qualified seniors with suitable assets can enjoy the benefits of utilizing working capital without leaving heirs with an accumulated debt from either the cost of long-term care or the accumulated debt of a reverse mortgage. Essentially an asset protection plan.

Your loan officer, Thom Bouis, who is also a licensed insurance agent, can assist you in comparing long-term care annuities bundled with life insurance from multiple providers. Just complete and send the form below for preliminary additional information.

Long-Term Care Annuity/Life Insurance
REQUEST FOR INFORMATION

Please complete and send this form for additional information regarding long-term care annuity bundled with life insurance options

Applicant Information

First Name:

Last Name:

My current age is:

Date of Birth:

I am currently healthy.

I am currently in a long-term care or nursing facility.

I am currently receiving assisted living care at home

I am terminally ill.

Address Street 1:

Address Street 2:

City:

Zip Code:

(5 digits)

State:

Co-Applicant Information

First Name:

Last Name:

My current age is:

Date of Birth:

I live at a different address than the primary applicant

I am currently healthy.

I am currently in a long-term care or nursing facility.

I am currently receiving assisted living care at home

I am terminally ill.

Contact Information

Daytime Phone:

Evening Phone:

Email:

Financial Information

Long-Term Care Annuity Value Requested:

(USD)

I have a current Long-term care annuity in the amount of:

(USD)

The Tax Assessed Value of my home:

(USD)

My current monthly income:

(USD)

I have current life insurance in the amount of:

(USD)

Life Insurance Amount Requested:

(USD)

Other Information

Comments:

I authorize insurance agent Thom Bouis and any insurance company to verify my eligibility for a Long-Term Care Annuity and or life insurance. Such verification may include my credit, employment and medical/health histories as necessary to determine my suitability and qualification for such products.

I authorize Thom Bouis and or representatives of any insurance company providing a quote to contact me via telephone, e-mail, US Mail or in-person to convey my eligibility and options for these products and to assist me in completing an application as necessary on required forms.

Clicking on the submit button below will send the form to Thom Bouis, Insurance Agent at the e-mail address of agent4insurance@sbcglobal.net