Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
PORTLAND, ME. -- Residents and staff of one lucky assisted-living facility will get 100 live Maine lobsters and all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds.
“Here in Maine where we’re headquartered, you haven’t celebrated summer if you haven’t dug into a Maine lobster,” says Life Care Funding CEO Chris Orestis. “We thought, what better way to honor seniors and hard-working assisted-living staff than to throw them a traditional Lobstah Bake with all the fixin’s.”
The winning community will be drawn from Life Care Funding’s 5,000-plus “Trusted Partners” – assisted-living facilities, nursing homes, etc., that receive free support in helping families explore and access a Life Care Benefit Fund as a long-term care financing option that makes direct monthly LTC payments.
The Assisted Living Federation of America in Washington, D.C. spoke out about this unusual and exciting celebration.
“We are excited to see Life Care Funding recognize the active and quality lifestyles that people enjoy in senior living communities,” says Jaclyn Allmon, VP of Marketing and Communication at ALFA. “Throwing an old fashioned Maine lobster bake for an entire community is such a fun way to celebrate summer and to recognize the valuable life experiences that residents are having across the country.”
Founded in 2007, Life Care Funding specializes in converting the death benefit of an in-force life insurance policy into a Long Term Care Benefit Plan to cover the costs of skilled nursing home care, assisted living, home healthcare, and hospice.
Communities that aren’t yet in the network can still get in on the fun by going to http://www.lifecarefunding.com/lobster-bake-giveaway-2014 to register. The prizewinner will be announced Aug. 15.