EPOCH Senior Living offers new funding option
Ideal for seniors seeking assisted livingPITTSFIELD — EPOCH Assisted Living at Melbourne, in partnership with Life Care Funding Group, announces a unique funding option called a Life Settlement for seniors wanting or needing to move into assisted living communities. EPOCH serves residents throughout Massachusetts and Rhode Island.
A Life Settlement is the sale of a life insurance policy by the policy holder while still alive to an institutional investor, which will pay much more for the policy than the cash “surrender” value. As a result, people are able to access cash more quickly than if they were trying to sell a home or other valuable assets.
“In today’s down economy, many seniors are holding back on moving, hoping their home values will rise before selling,” said Diane Weinstein, EPOCH Executive Director. “A Life Settlement allows the person to keep the home in the estate and make the move they want or need to make relatively quickly.”
Proceeds from a Life Settlement are actually tax deductible when applied to a move into senior housing. All forms of life insurance are eligible, and the typical minimum age of a policy owner is 65.
“Once again, EPOCH is being innovative by offering this funding option for prospective residents,” said Chris Orestis, principal, Life Care Funding Group. “The beauty of a Life Settlement is that long-held family assets are maintained and the person selling the life insurance policy gets a high value due to a competitive bidding process.”
EPOCH Assisted Living is located at 140 Melbourne Road. For more information, please call Diane Martin at 413-499-1992.
