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Ways to Pay for Senior Living in Glenview, IL

Planning for senior living is one of the most important steps a family can take, and understanding your options makes it far less overwhelming. At Arbor Terrace Glenview, our team is here to help you explore the resources available and build a plan that works for your family.

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Talk to Our Team Calculate Your Costs

Understanding Your Options

Most families use a combination of resources to pay for senior living. From personal savings and retirement income to long-term care insurance and veterans benefits, there are more options than many people realize. The key is understanding what is available and how each piece fits together.

Ways to Pay for Senior Living

Here are some of the most common ways families fund senior living at Arbor Terrace Glenview.

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Personal Savings & Income

Many families use a combination of savings, retirement accounts, pensions, Social Security, and investment income to fund senior living. These personal resources are the most common way to pay.

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Home Proceeds or Bridge Loans

Selling a home can free up significant funds to support senior living. Because Arbor Terrace Glenview is a monthly rental with no large buy-in, home-sale proceeds can stretch further.

insurance ways to pay

Long-Term Care Insurance

If a resident has a long-term care insurance policy, it may help cover assisted living or memory care costs. Our team can help you understand your policy and coordinate benefits.

veterans ways to pay

Veterans Aid & Attendance

Veterans and surviving spouses may qualify for the Aid and Attendance benefit, which can help offset the cost of care. This benefit provides valuable monthly support for those who qualify.

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Life Insurance Conversions

You may be able to convert an existing life insurance policy into a living benefit to help fund care costs.

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Tax Deductions & Medical Expense Credits

Many families can deduct certain assisted living expenses from taxes — briefly explain this and link to an external resource.

Let's Find the Best Option for You

Every situation is unique. Our team can help you identify which financial resources apply to your family and guide you through the next steps.

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Watch Our Webinar

Looking for ways to manage the costs of senior living? In this informative webinar, Emily Schwarz, VP of Sales at ElderLife Financial, will guide you through a variety of financial resources that can help cover the costs of senior living. She'll cover VA benefits, real estate solutions, long-term care insurance, and ElderLife’s Bridge Loan. Whether you're considering options for yourself or a loved one, Emily’s expert insights will equip you with the knowledge you need to make confident, informed decisions.

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Senior Living LIVE! Financial Resources to Pay for Senior Living

Common Questions About Paying for Senior Living

Costs depend on the level of care and the apartment a resident chooses, with a transparent monthly rental model and no large buy-in. Our team can provide a personalized quote and help you build a plan that fits your budget.

No. Arbor Terrace Glenview is a month-to-month rental community with no large buy-in or entrance fee. This gives families financial flexibility and makes budgeting more predictable.

In many cases, yes. Long-term care insurance policies often help cover assisted living and memory care costs. Our team can help you review your policy and coordinate your benefits.

Yes. Veterans and surviving spouses may qualify for the Aid and Attendance benefit, which provides monthly financial support toward the cost of care. Our team can point you to helpful resources to determine eligibility.

Absolutely. Many families use home-sale proceeds to fund senior living, and our monthly rental model means there is no large buy-in required. Bridge loan options can also help during the transition.

Families typically combine private savings and retirement income, home-sale proceeds, long-term care insurance, and veterans benefits. Our ElderLife Financial partnership can also provide bridge loans and guidance during the transition.

Some care costs may qualify as deductible medical expenses, particularly in assisted living and memory care. We recommend consulting a tax advisor about your specific situation in Illinois.

Arbor Terrace Glenview offers assisted living, our Bridges neighborhood for early-stage cognitive support, and secured Evergreen memory care. Your plan can adapt as a resident's needs change.

The best way is to reach out to our team for a quote based on the neighborhood, apartment, and level of care you need. You can also try our cost calculator or schedule a visit to learn more.