mxvu OP t1_ixpeoo2 wrote
Reply to comment by Special_FX_B in How much is memory care or Assisted living in NJ? by mxvu
So they slowly accumulated her bank accounts, properties, any assets to offset to balance of the assisted living? I’ve heard of this, but didn’t know it was part of a policy per se.
Special_FX_B t1_ixqf6fl wrote
It’s not. The insurance paid a portion of the cost. The rest came from pensions, Social Security and other assets she had accumulated.
mxvu OP t1_ixybhuy wrote
Oh boy. Did insurance cover a decent amount?
Special_FX_B t1_ixyo9d1 wrote
She bought the policy with a lump sum of about $100,000. I think it paid about $1,700 a month.
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