What should you pay attention to?
According to Susan Sterling, a regional manager with the Dallas-based senior-living company CP Homes, families don’t always have immediate access to money and might require a bridge loan to pay for the first months of care. If money should come from selling a house, note that closing on the sale could take about 2 months; in the case of veterans, it could take months before receiving the benefits from the Veterans Administration and when it comes to long-term care insurance policies, the elimination periods vary between zero and 180 days. More importantly, receiving these benefits depends on the policyholder’s condition, like their inability to eat by themselves, dress or groom.
