Affordability
Making Senior Living a Reality
At Brookfield Senior Living, we understand the financial considerations that come with transitioning to life in a senior living community.
Making one our supportive and enriching locations accessible to you is our priority.
We're here to guide you through the process, helping you explore all available financial resources to ensure that you can comfortably call a Brookfield community home.
While the transition to senior living might seem difficult, it's important to consider some key points:
Many things are included in the cost. At Brookfield Senior Living, your rent includes all utilities plus basic cable TV and high-speed internet.
You'll receive services you need but currently may not have. Weekly housekeeping, daily bed making and trash removal, and complimentary laundry service are just a few of the additional benefits that can make your life easier and help preserve your independence.
You'll save money on some things you're paying for now. Costs associated with home ownership—like association fees, condo dues, and homeowner's insurance—will no longer be a consideration.
There are many different ways to afford a senior living community. Brookfield will work with you to help determine your budget and resources, including options you may not know about.
Below, we've outlined some of the different options that might be available to you. It's always a good idea to also speak with a certified financial planner who can help you assess your individual circumstances.
Retirement Savings
The easiest way to afford an assisted living or memory care apartment is with retirement savings. This might include a pension, 401(k), IRA, or annuity, plus social security benefits. It's important to talk with an accountant or a financial planner who can help you determine the most effective way to make use of your funds.
VA Aid & Attendance
Qualified veterans and their spouses over age 65 who served in the United States armed forces during wartime are eligible to receive funds to help pay for aid or assistance with activities of daily living. We've created a special Veteran's Benefits page that details eligibility requirements and the application process.
Long-Term Care Insurance
Long-term care insurance policies are designed to cover the costs associated with assisted living and memory care. If you have a long-term care insurance policy, it can be used to help you afford care at a Brookfield community. If you are a retired government employee or former postal worker, it's also worth checking if you are enrolled in the Federal Long Term Care Insurance Program (FLTCIP).
Bridge Loans
If you're currently in the process of selling your home or waiting for an insurance policy to start paying out, a bridge loan from a reputable financial institution can provide immediate funds to help you pay for a comfortable transition to senior living.
Life Insurance Benefits
Many people don't realize that a life insurance policy can be a source of funds to pay for senior living. By surrendering a life insurance policy for its cash value or selling it to a reputable third party for market value, you can free up funds to pay for the assistance you need right now.
Combined Funding Sources
Most seniors utilize several different funding sources to pay for assisted living or memory care. In many cases, it's enough to pay for assisted living or memory care outright, or significantly reduce the amount that children or other family members will need to contribute.
We Can Help
Moving to a senior living community is often an unexpected transition, but at Brookfield Senior Living, we believe it doesn't needed to be an overwhelming one.
The experienced professionals at a Brookfield community near you can provide you with the most current pricing information and help you go about the process of determining your budget for senior living.
Just fill out our contact form and we will be in touch.