Sunrise Senior Living (NYSE: SRZ) announced that it has created and is providing a a new informational guide to help seniors and their families identify ideas for affording senior care in today’s challenging economy. The guide is entitled Affording Senior Living: The Financial Options and is available at Sunrise communities nationwide and also online at www.sunriseseniorliving.com/financialoptions for a limited time. The guide includes a Senior Living Expense Worksheet, which can help seniors and their families evaluate the costs of home care versus a senior living community. The four page guide provides a brief overview of the options available to seniors and children looking at the expenses of seniors and aging.
The guide gives tips and identifies a variety of financial products that are available in the marketplace today to help families who need access to senior care, but are unsure how to fund it. In the past, people relied on the sale of a home or traditional savings and investments to afford senior living. However, there are a number of additional financing options available:
- Traditional options such as liquidating investments, savings and retirement income
- Real estate options such as home equity loans and reverse mortgages
- Insurance options including long term care insurance and life settlements
- Government provided options such as Veterans’ Benefits and Medicare
“We recognize that many people have questions about the best way to finance senior care, especially today,” said Kurt Conway, senior vice president for Sales & Marketing at Sunrise. “That is why we felt it was important to help seniors and their families understand that there are many options for financing the personalized care and services they need – as soon as they need it.”
For the full press release, click here.