Method for increasing liquid assets available to at least partially fund living expenses at an assisted living facility

A method for increasing liquid assets available to an individual to at least partially fund living expenses of the individual at an assisted living facility, the method comprising:

• receiving first information relating to a life insurance policy owned by the individual, the first information being provided by the individual as a result of an analysis of assets of the individual that are available to pay for services which are expected to be provided to the individual at the assisted living facility;
• receiving second information relating to a physical condition of a person insured by the life insurance policy;
• determining whether to purchase the life insurance policy based at least on the first information and the second information;
• and
• in the event that purchase of the life insurance policy is desired, providing a purchase offer to the individual.

A method for an individual to increase liquid assets available to at least partially find living expenses at an assisted living facility, the method comprising:

• consulting with the assisted living facility to identify assets of the individual that are available to pay for services which are expected to be provided to the individual at the assisted living facility;
• in the event that the assets include a life insurance policy owned by the individual, providing first information relating to the life insurance policy and second information relating to a physical condition of a person insured by the life insurance policy to at least one of the assisted living facility and a potential purchaser;
• and
• receiving a purchase offer from the potential purchaser in the event that the potential purchaser desires to purchase the life insurance policy based on the first information and the second information.

A method for increasing liquid assets available to an individual to at least partially fund living expenses of the individual at an assisted living facility, the method comprising:

• providing, by the assisted living facility, consultation to the individual to identify liquidatable assets of the individual that are available to pay for services which are expected to be provided to the individual at the assisted living facility and to advise the individual as to requirements for obtaining government assistance to fund the living expenses of the individual, the requirements including divestment of a substantial portion of the liquidatable assets of the individual;
• in the event that the liquidatable assets of the individual include a life insurance policy owned by the individual, advising, by the assisted living facility, the individual as to availability of viatical settlement of the life insurance policy;
• in the event that the individual elects to proceed with viatical settlement of the life insurance policy for purposes of divesting of liquidatable assets of the individual and thereafter qualifying for governmental funding assistance, providing, by the individual to the viatical settlement provider, at least first information relating to the life insurance policy and second information relating to a physical condition of a person insured by the life insurance policy;
• determining, by the viatical settlement provider, whether viatical settlement of the life insurance policy is available based at least on the first information and the second information;
• and
• in the event that viatical settlement of the life insurance policy is available, providing, by the viatical settlement provider, a viatical settlement offer to the individual.