Solving a Financial Problem for one Retired Senior

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Marie and Len have been married for 42 years and live in an old house set on a lovely property. After retiring from a career in retail sales management, Len takes care of the yard and fishes. Marie, having raised two children and worked as a part time bookkeeper, enjoys the garden, especially her rose bushes. This past year, both Marie and Len experienced a decline in their health and cannot manage the house and the property as they once could. Even though they value their independence, they realize that a move to a retirement community will be in their best interest.

Their first step was to take a very realistic look at their financial situation. “We were not at all happy to see that the decline in the stock market did not leave us with enough assets to move to a community of our choice,” expressed Marie.

While looking at retirement communities in the Guide to Retirement Living, Marie saw an advertisement from a local company, AVI – Money for Life. The ad read, “Need Money to Pay for a Retirement Community? We buy life insurance from seniors.” Life Settlements, the sale of a senior’s life insurance policy in exchange for a lump sum cash payment, seemed like the perfect solution to Marie.

Says Marie, “Len and I talked it over and decided to contact AVI. Stewart Shannon, the owner, and Maggie Ryan, our representative, were very helpful in explaining the process to us. They told us that seniors over 65 with a moderate decline in their health are eligible, and since Len is 78 and I am 72, we qualified. Also, it was just a short application to fill out and no medical exams were necessary. We especially liked that there was no cost or obligation. AVI would evaluate our policy and let us know how much cash we could receive. Both Len and I had separate policies, and we decided to go ahead and have AVI appraise both of them. Within a few short weeks, AVI had cash offers for us to evaluate. We discussed it and decided to sell both of them to help us pay for a retirement community. We thought it was great. We never realized we could sell our life insurance when we needed the cash immediately. We are currently busy visiting retirement communities. We now have the money to pay for our care and won’t have to burden our children. Now we are sure to find the perfect community for us.”

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