Wife Sells $2M Policy to Fund Memory Care
With memory care costs exceeding $12,000 a month, a 74-year-old woman sold her husband's $2M whole life policy — securing over a year of premium care for her Alzheimer's-diagnosed spouse from an asset she was about to abandon.
The Situation
Eleanor (name changed) was a 74-year-old retired teacher in Scottsdale, Arizona. Her husband of 47 years had been diagnosed with early-stage Alzheimer's, and their memory care facility was billing $12,500 per month.
Within months, their savings were depleted. Eleanor's financial advisor noticed a $2 million whole life policy in their portfolio — one taken out decades ago and nearly forgotten. The insurer quoted a $31,000 cash surrender value.
After a referral to Accelerated LS, Eleanor discovered her husband's policy qualified for a life settlement. According to LIMRA's life insurance research, the vast majority of policyholders who surrender policies never explore the secondary market — often leaving tens of thousands of dollars behind.
"I was about to surrender the policy for $31,000. Instead I received $187,000. That's over a year of my husband's care that I wouldn't have had."
— Eleanor, Scottsdale AZ, Age 74
How It Happened
Advisor Referral
Eleanor's financial advisor identified the $2M whole life policy during a portfolio review and referred the case to Accelerated LS for secondary market evaluation.
Policy & Medical Review
We completed a full policy review and coordinated with Eleanor's medical providers to assemble a comprehensive life expectancy report for prospective buyers.
Competitive Bid Process
The case was presented simultaneously to 11 licensed institutional buyers. The competitive process drove the final offer 6× above the insurer's CSV.
Funds Released in 62 Days
Eleanor received $187,000 in net proceeds, which were immediately redirected to an escrow account to fund ongoing memory care costs for her husband.
Key Outcomes
Could You Qualify?
Long-term care costs are one of the most common reasons seniors explore life settlements. If a spouse or family member requires ongoing care, an existing life insurance policy may be the most efficient source of funds available — often yielding many times the insurer's surrender offer.
- You are 65 or older
- Premiums have become difficult to afford
- Your coverage needs have changed
- The policy is at risk of lapsing
- You need funds for healthcare or retirement income
According to LIMRA's insurance research, millions of Americans hold life insurance policies they no longer need or can no longer afford, making them strong candidates for a life settlement.
Learn more about life settlement eligibility requirements or use our free policy value calculator to get an instant estimate.