These are some questions people often have about financing senior living. How can I pay for senior living? You can take out bridge loans, rent your seniors home that they will be leaving, or check out assistance programs if they are a veteran. How much does it cost? The countrywide average was $3,628 per month. Does Medicare pay for senior living? No, it does not pay for it. Can you use life insurance to pay for it? You would have to take a “life settlement” which has some pros and cons.
Key Takeaways:
- When looking into senior living it is good to know that their are several loan options that are available
- Seniors who own their homes can rent out their homes and use those monthly payments to finance their senior living needs
- When considering senior living it is good to be aware that you don’t have to pay for services you don’t need which
“If you’re like most families, you and your senior loved one have lots of questions about paying for senior living.”
