Making a Comfortable Move to Assisted Living
Families and seniors may want to consider some of these additional options to supplement their monthly rental fees.
Shared or Companion Suites
Sharing a private apartment with a roommate is a good choice for budget conscious individuals who face a shortfall in the amount they require to afford the senior community of their choice. Others choose to share an apartment because they like the companionship. We will try our best to match you with a roommate who shares a common background or interests. Please speak with the community’s Executive Director about this option.
Consider a Life Settlement
A life settlement provides seniors with cash for their life insurance policy. Available for term, universal or whole life policies, life settlements, on average, provide three-to-four times the cash surrender value of your insurance policy. We can introduce you to a provider that will help you determine how much cash you can receive for your life insurance policy to determine whether this is a good option for you.
ElderLife Financial Services
ElderLife provides loans to families and seniors interested in financing some or all of their assisted living costs. Families use an Elderlife line of credit when they face a gap in the amount their loved one requires for the senior community of their choice or they are waiting for a house to sell or veterans benefits to start, leaving them with an unplanned financial shortfall.
ElderLife Financial Services offers a planning calculator and a variety of other tools and information on their website www.ElderLifeFinancial.com.