Maybe you’ve heard horror stories. Perhaps you fear that you can least afford precisely what you or your loved one needs the maximum. But while senior care homes can indeed be expensive, you will find a host of financial aid programs that have emerged in recent years — not to the indigent but for seniors who have real estate and life insurance, and also for military veterans. Some of the programs offer very creative methods to move to an independent or assisted living area potential even before you have sold your home or condo.
Here are some funding options you need to consider:
You are promoting what’s Called a “Life insurance Settlement,” your life insurance policy. you can finance the expense of senior living by selling your life insurance coverage for an amount greater than the cash surrender value. Launched through Lifecare Funding Group, there are no restrictions on the use of the funds. After agreeing to a Life Settlement, you do not pay premiums, and you are given a lump sum check and balloon payment to meet your current financial requirements. If you have served in any service branch during wartime, need physical assistance, and be eligible in terms of income and resources, you could qualify for a monthly benefit to put toward an individual or assisted living expenses in Louisiana. It requires some paperwork and maybe a couple of weeks of processing, but it may make a massive difference in your life quality. If you are accepted for this benefit, it becomes retroactive to the date you physically moved to a senior living communities in Mississippi.
St Oaks staff are happy to consult with you to determine what programs may be suitable and beneficial to you. Please contact us at St. Oaks Senior living area near you to learn more about any of these programs.
