“How do I pay for senior care?” It’s a question many aging Americans struggle with. Many families may need to look beyond traditional ways of financing their golden years. Download this guide to learn more about what resources you can tap to help pay for senior care, including:
- Veterans Aid & Attendance. If you or your spouse served in the military during active duty, you may qualify for this monthly benefit, which can help cover in-home, assisted living or nursing home care.
- Social Security. When you choose to begin drawing on these benefits can make a big difference in your financial plan. Learn more about how to plan what’s best for your scenario.
- Insurance Policies. LIfe insurance, long-term care insurance, long-term care annuities and hybrid policies can be used to provide a regular stipend that can go a long way toward covering expenses for everything from adult day care to skilled nursing.
- Bridge Loans. These programs can help homeowners quicken their cash flow when they need it most, regardless of the real estate outlook of their local market or readiness to put a house up for sale.
- Reverse Mortgages. Another way to unlock home equity, reverse mortgages provide a way for seniors to remain in their homes while generating funds for their care. There are advantages and disadvantages to this.
Download The 5 Best-Kept Secrets to Financing Senior Care now to learn more about your options for paying for senior living, for you and your loved ones.
Update: January 2018