December 29, 2020
Hospice Care – Do you know enough about it?
I used hospice care for both of my parents. It was a positive thing for them and for those of us involved in their care. Here is some information about hospice care in case you could use more details.
What is it?
Hospice care focuses on the best possible quality of life for a person facing a life-ending illness, while also providing assistance to that person’s caregivers. Hospice is designed to provide the highest level of comfort to the patient.
The goal of hospice care is to accept that death will happen naturally and that the care provided will neither hasten or delay death. Once a person goes into hospice case, medical care is limited to that which improves quality of life making each remaining day more comfortable.
When should you consider hospice care?
Hospice care provides support when a person is expected to live six months or less. If a person has exhausted all medical care options and is looking for a “stay at home” or “stay in nursing home” solution and not a hospital end, hospice could be the right decision.
Keep in mind that hospice care is not an irreversible decision. At any time, a person can decide to pursue advanced medical care and leave the hospice care facility and pursue other options and/levels of medical care.
What does hospice care provide?
Medicare provides standards for hospice care that must be followed by approved hospice organizations. In many cases, Medicare will cover the costs of hospice care.
Often hospice care takes place in the home, as the people in need of such care are often most comfortable in their own home. However, hospice care can also be provided in dedicated hospice facilities, nursing homes, or assisted care facilities.
Hospice staff will assist in obtaining the necessary medical equipment and supplies.
Hospice staff may assist in obtaining spiritual care and visits, if not previously arranged by family and friends.
Hospice nurses or social workers (often both will be involved in the care) will keep family members updated on the status of the person (with approval) and will answer questions and discuss feelings.
Hospice care givers will also assist the family in the questions involved in funeral planning.
Respite care, providing a break to the caregivers, is sometimes also available.
Following death, bereavement care is often offered – helping family members through the grieving process, to the extent desired.
For additional information on hospice care and hospice facilities, please refer to these three articles and or research “hospice care” online.
What is hospice care?
What is hospice?
If you or a loved one are in need of assistance paying for hospice care, you may be able to sell your life insurance policy in a life settlement to pay for the care. A life settlement transaction is a powerful tool that allows life insurance policy holders to tap the market value of their life insurance policy, which they can use however they need! In a life settlement, the life insurance policy holder receives a cash offer of an amount less than the death benefit but more than the cash value from a life settlement provider. The new owner then pays all future premium payments on the policy. Life settlements are a regulated transaction, so make sure you are working with a life settlement provider or broker who is licensed in your state.
You can get an instant estimate of the value of your client’s life insurance policy by visiting the LCX Life calculator. You can also call LCX Life at 888-388-0988, contact us here, or email us firstname.lastname@example.org to discuss your client’s situation. Our team is available and ready to explain to you all that you would want to know about life settlements. Remember to visit our Life Settlement Genius portal for client materials and additional information.
Remember: Never let your clients abandon a life insurance policy without looking at the life settlement option first!