October is Long-Term Care Planning Month, a time to assess plans for future care needs and the financial options available to seniors to cover the cost of care. One of our goals at Senior Lifestyle is to make the transition to senior living as seamless as possible for new residents and families, and we know that one of the most difficult aspects of making new living arrangements for senior loved ones is the “financial conversation.” We understand that discussions about money can be emotionally charged, and although the conversation itself may seem intrusive to both parents and adult children, it is a necessary one.
Understanding what funds and financial options for senior living are available is vital to the search for senior housing. Having solid financial information at the outset of the senior housing search can help streamline the process and will save a great deal of time and frustration, not only for seniors but for their families as well.
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At Senior Lifestyle, we care about not only the physical and emotional wellbeing of our residents, but their financial health as well, and that’s why we recommend the services of companies like Elderlife Financial. A leading senior solutions company, Elderlife Financial helps families understand their financial options for senior living and locate and finance senior housing needs, offering a variety of services to facilitate the moving process, including:
Financing Senior Living
A bridge loan can help fund senior living while waiting for Veteran’s benefits or insurance payments to begin or waiting for the sale of a home. This service allows families the peace of mind of an immediate move.
Veteran Benefits Assistance
Many veterans are unfamiliar with the benefits available to them. Elderlife Financial can assist in the process of gathering the necessary information to apply for the “Aid & Attendance” pension benefit, as well as providing short term funding while waiting for benefits to be approved.
Assistance with Insurance
If a long-term care policy is in place to pay for care, Elderlife financial can help navigate the often-complex process of making a claim and qualifying for benefits. Additionally, life insurance policies are a potential source of funding for senior living and can be sold or borrowed against to pay for care.
At Senior Lifestyle we know that the search for senior housing can be daunting, but our community advisors are here to help you navigate the journey and understand your financial options for senior living. For information on a Senior Lifestyle community near you, visit our website at www.seniorlifestyle.com to schedule a tour and meet with an advisor. Financial resources are available on the Senior Lifestyle website as well, so help is just a click away!