Financial Tips

10 Financial Terms to Know for Funding Senior Living Expenses.

Understanding options for funding senior living is much easier with a basic knowledge of common financial terms. Here are some to help you get started.

When considering a move to senior living, don’t be shy about asking all the questions you may have. Whether it’s about levels of care, benefits of a certain location, which contract option works best for you, or details about funding senior living. You’re planning your future, and you want to do so with confidence.

At St. Mark Village, we’d be honored to help you.

Funding Options for Paying for Senior Living.

Paying for senior living is like any major purchase: you do much better when you know the funding options available to you. Here are some possibilities.

A bridge loan, reverse mortgage, insurance conversion, Veteran’s Aid & Assistance, and long-term care insurance are all possible funding options. It’s also good to know of the important tax advantages available if you choose a CCRC, making it more affordable than you might think.

In addition, at St. Mark Village, we understand one size does not fit all. That’s why we offer multiple contract options—Traditional, Monthly Service Fee Discount, and 50% Refundable—so you and your family can choose the one that works best for your needs.

What to Expect in the Senior Living Application Process

Simplifying the senior living application process: St Mark Village offers a secure online alternative that makes it easier for you and your family.

It’s called Senior Sign—software designed specifically for ease of use by seniors and their families. Similar to DocuSign, except that Senior Sign is HIPAA compliant. All data is encrypted and secure.

And the good news: even if you are not a tech novice, you’ll most likely find this to be a smooth, safe, and painless way to complete the senior living application process. Let us tell you why.

St. Mark Village continues to make significant investments in technology to improve the services and quality of life for residents and team members within the community.

Planning Your Retirement Long-Term With a CCRC

Planning your retirement? Choose a CCRC for reassurance of continuing care and an engaging lifestyle.

It’s good to be excited about what lies ahead. And it’s even better to know that you have a plan in place as things change, including seamless access to future care needs.

That’s what you’ll find at St. Mark Village. All the perks of carefree senior living, continuous care, and a welcoming sense of family and community. It makes planning your retirement a pleasure.

The Value of the “CC” in CCRC

Continuing care offered in a CCRC (continuing care retirement community) offers a tremendous value compared to other types of senior living communities.

With the peace of mind of continuing care, you can relax and enjoy life with new freedom. You don’t have to worry about what will happen if you should require additional care, and your family is relieved of the burden of making hard decisions at a later time.

It’s why so many older adults choose a CCRC, not only for continuing care, but also for a strong focus on wellness, healthy aging, and an exceptional quality of life.

How Life Insurance Conversion Can Help Pay for CCRC Senior Living

Most people know how life insurance can help them care for others’ future needs. But many do not realize that life insurance conversion—converting a life insurance policy into a long-term care benefit—is an option that could benefit them and their families right now, by helping to fund home care, assisted living, skilled nursing and hospice.

It can be tempting to think the need to fund long-term care may never arise, and while that may be true, there are numbers to consider as you consider life insurance conversion as well as other sources of funding for future care.

Life insurance conversion can help pay for CCRC senior living. Statistics on likelihood of needing long-term care, plus pros and cons of this option