Making the move to a memory care community opens the door to a lifestyle filled with comfort, community, and research-based care. However, one of the most common questions families face is, “How will we pay for it?” At Certus, we understand these concerns and are here to guide you through the financial options available. With the right resources and expert support, you can help your loved one thrive in a secure, enriching environment.
A great starting point is to assess your loved one’s personal financial resources. Over time, they may have accumulated savings, investments, or other assets that can be utilized for their senior living expenses. If your loved one has had a financial advisor or an accountant, schedule a conversation to learn more about the resources already available. Some assets to consider include:
Long-term care insurance is a valuable tool for managing senior living costs. These policies are specifically designed to cover expenses related to care and support services. If your loved one has an existing policy in place, review the details with their insurance provider to fully understand what is covered in the plan.
Unsure about how to navigate the complexities of their policy? Not to worry! We can refer you to trusted consultants who specialize in helping families maximize the benefits of long-term care insurance. Reach out to Certus Senior Living for assistance in connecting with a financial consultant here.
For many seniors, their home is one of their most significant assets. Selling a home can provide the funds necessary to support a move to one of our communities. Additionally, downsizing often involves estate sales, which can further contribute to covering costs. To ensure a smooth process, consider contacting a Seniors Real Estate Specialist®
(SRES®), a professional experienced in assisting older adults with selling their homes.
If selling isn’t the right option, alternative ways to access home equity exist, such as bridge loans or home equity conversion mortgages.
Our team can help connect you with resources to determine your loved one’s eligibility and assist with the application process. Or click here for immediate assistance with your Aid and Attendance application.
Certain types of life insurance policies can be utilized to fund senior living expenses. Depending on the policy, your loved one may have the option to cash out, sell, or convert their policy into a long-term care benefit. It’s essential to review the specific terms of their policy to explore these possibilities.
For families seeking additional assistance, there are several other funding options to consider:
While Certus does not accept Medicare or Medicaid, we can provide references to our community partners that do.
Understanding how to fund senior living can feel overwhelming, but you don’t have to navigate it alone. CERTUS is here to help you explore all available options and connect you with the right resources. Together, we can find solutions that ensure your loved one can enjoy the comfort and care they deserve.
Ready to take the next step? Contact us for a free consultation with our financial assistance team. Let us help you create a plan that works for your family’s unique needs.
