For those who are already in their 70s and can't afford to buy new Term to 100 life policies but have an existing Term to 100 life policy with NO Cash Surrender Value here is another alternative currently available in the US but NOT in most Provinces INCLUDING Ontario. If you visit www.lifecarefunding.com based in Maine you will see that a US senior can CONVERT their life policy into a monthly income stream. This is what the new Ontario Bill 162 is planning to LEGALIZE if it gets passed.
For a Canadian version available out of Nova Scotia you can visit www.life-funding.com or www.life-choice.ca available out of Quebec.