When applying for Medicaid, a Life Insurance policy is considered an asset and applicants commonly walk away from their policy and go through the Medicaid "spend down period" draining their savings acount, simply because they do not know that they have options.Can you use your existing "In-force" life inusrance policy to pay for long term care?Yes! An existing "in-force" life insurance policy can be converted into a long term care benefit paying directly out to a nursing home, assisted living community or home health care. LifeBridge Benefits offers seniors a distinct, creative opportunity: the conversion option. What exactly is the conversion option? LifeBridge Benefits enables a life insurance policy owner to use their in-force policy to cover long-term care and/or senior housing expenses. This is accomplished through the conversion of the life insurance policy into the LifeBridge Benefits Plan. Once enrolled in the LifeBridge Benefits Plan, fixed amounts are paid directly to senior housing and long-term care providers including home healthcare, assisted living, and nursing home care. The Policy holder is no longer responsible to pay for the monthly premiums and a death benefit is immediately set aside to cover funeral and burial cost.