Everyone has unique circumstances that help determine how they can best fund senior living for themselves or their loved ones. In the past, people have relied on the sale of a home or traditional savings to afford senior living. But today, a variety of financial options are available through a number of sources offering more flexibility and access to resources when it is most needed. Here are a few good options to consider.
ELDERLIFE FINANCIAL SERVICES
Sunrise Senior Living is pleased to present ElderLife Financial Services, which offers qualified prospective and current residents and their families a loan to bridge the gap in funding short-term and long-term senior living costs. People waiting for the sale of a home or for veterans’ benefits to start among others may benefit from an ElderLife loan.
For more information contact ElderLife Financial Services:
1-888-228-4500 | sunrise@elderlifefinancial.com | www.elderlifefinancial.com
VETERANS BENEFITS
Veterans who served during wartime and their spouses may be eligible to receive nearly $2,000 per month to help defray the cost of assisted living, in-home health care or other non-reimbursed medical care through the "Aid and Attendance" Program. For more information, please contact your Veterans Regional Office ( www.va.gov ), call 1-800-827-1000 or contact an accredited agent.
LIFE CARE FUNDING
Sunrise Senior Living is please to present Life Care Funding, which offers the Life Care Assurance Benefit that converts your life insurance policy into a long term care benefit plan to help cover the cost of care on a monthly basis. Any form of life insurance is eligible, and unlike long term care insurance there are no premium payments or wait periods. Qualifying for the benefit plan is quick, uncomplicated and can be done in less than 30 days.
For more information contact Life Care Funding Group:
1-888-670-7773 | info@lifecarefunding.com | www.lifecarefunding.com
TAX BENEFITS
Costs related to senior living at Sunrise may be tax deductible for both the resident and their family caregiver if they meet the Internal Revenue Service requirements. Sunrise does not provide tax advice, but we have partnered with H&R block who can provide guidance in this area. H&R Block offers a free Second Look Review for Sunrise residents as well as discounts on tax return preparation. We encourage you to contact a Sunrise community to learn more. . You may also visit www.irs.gov, and particularly http://www.irs.gov/pub/irs-pdf/p502.pdf for more information on this potential benefit.
COMPANION LIVING
Companion Living brings together two residents to share a suite. This offers a more affordable option, but all the features and benefits of senior living like, great meals, engaging activities, transportation and most importantly experienced team members dedicated to compassionate care remain.
The goal is to match people with a common background or interest that can serve as a foundation for a friendship. Companion Living eases the transition to the community from the guidance of a roommate who knows the feelings of isolation and depression, and builds confidence and self-worth through meaningful relationships.
BEWARE OF COMMON FRAUD SCHEMES
Please beware that there are numerous and clever scams to trick people into sending money to sham organizations or causes. Sunrise will never request anyone to cash a check on the company's behalf. Please be vigilant and ask questions if someone contacts you with this request. For more information on some common scams, please visit: http://www.fbi.gov/majcases/fraud/fraudschemes.htm#nigerian
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All content contained within this page is provided for general information only, and should not be treated as a substitute for advice and information from a personal financial or tax advisor. Sunrise is not a provider of any of these financial products or of any financial and tax advice, and does not endorse or take responsibility for the accuracy of the information contained on the Web sites above or receive incentive compensation from the companies and products listed here. Individuals should consult with their personal financial or tax advisor for advice about what financial options are best for them.