Updated Wednesday, August 27, 2014 as of 10:52 AM ET

New Firm Swaps Life Insurance Policies for Long-Term Care

Chris Orestis believes he has a perfect solution for many people who lack long-term care insurance but hold life insurance policies. His company, Life Care Funding, offers life settlements - transactions that allow life insurance policyholders to sell their policies at a discount in the secondary market. In exchange, the buyer - Orestis' company - takes over premium payments and consequently collects the death benefits.

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