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Ways to Pay for Senior Living at Arbor Terrace Highland Park

Understanding how to pay for senior living is an important part of planning for the future. At Arbor Terrace Highland Park, our team is here to help you explore the many resources available, so you can make a confident, informed decision for your family.

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Talk to Our Team Calculate Your Costs
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You Have Options — We'll Help You Explore Them

Below are some of the most common ways families pay for senior living at Arbor Terrace Highland Park. Our team is always glad to talk through the options with you.

Ways to Pay for Senior Living

Explore the financial resources and options available to help make senior living accessible for your family.

piggy-bank ways to pay

Personal Savings & Income

Many families use a combination of private savings, retirement accounts, pensions, and Social Security to pay for senior living. Because our community uses a month-to-month rental model with no large buy-in, families keep their financial flexibility.

house ways to pay

Home Proceeds or Bridge Loans

For many families, selling a home is a primary way to fund senior living. The proceeds can more than cover the cost of a community, and moving to Arbor Terrace Highland Park also eliminates the ongoing expenses of homeownership, from taxes to maintenance.

insurance ways to pay

Long-Term Care Insurance

If your loved one has a long-term care insurance policy, it may help cover the cost of assisted living or memory care. Policies vary, so our team can help you understand your coverage and coordinate with your provider.

veterans ways to pay

Veterans Aid & Attendance

Veterans and surviving spouses may qualify for the Aid and Attendance benefit, which can help cover the cost of care. This benefit provides valuable monthly support for those who qualify. Learn more in our complete guide to veterans benefits for senior living.

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umbrella ways to pay

Life Insurance Conversions

Certain life insurance policies can be converted into a benefit that helps pay for senior living. This option is not widely known, and our team can help you determine whether it may apply to your family.

deduction ways to pay

Tax Deductions & Medical Expense Credits

Some senior living and care expenses may be tax deductible, depending on your circumstances. We recommend consulting a tax professional, and our team can help you gather the documentation you may need.

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.

Talk to Our Team
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A Family's Guide to Paying for Senior Living

From monthly fees to financing options, this guide covers everything your family needs to plan.

Read the Guide Now
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Common Questions About Paying for Senior Living

Costs depend on the level of care and apartment a resident chooses, with a transparent monthly rental model and no large buy-in. Our team can provide current pricing and help you compare it with the cost of staying at home.

Yes. Many residents use long-term care insurance to help cover the cost of assisted living or memory care. Our team can help you understand your policy and coordinate with your insurance provider.

Yes. Veterans and surviving spouses may qualify for the Aid and Attendance benefit, which provides monthly financial support toward care. Our complete guide to veterans benefits is a great place to start.

No. Arbor Terrace Highland Park uses a month-to-month rental model with no large buy-in or entrance fee. This keeps costs predictable and preserves your family's financial flexibility.

Families commonly combine private savings, retirement income, proceeds from a home sale, long-term care insurance, veterans benefits, and bridge-loan options through ElderLife Financial. Our team can help you build a plan that works.

Through our partnership with ElderLife Financial, families can access bridge loans and financial tools to help cover costs during a transition. This can be especially helpful while waiting for a home to sell or benefits to begin.

Some costs may be tax-deductible when care is medically necessary, though every situation is different. We recommend consulting a qualified tax advisor, and our team can provide documentation to support the conversation.

Arbor Terrace Highland Park offers assisted living, our Bridges program for early-stage cognitive support, and secured Evergreen memory care. Residents can transition between levels as their needs change, all in one community.

The best first step is to contact our team. We can share current pricing, explain the resources available, and connect you with tools and partners that make planning simpler and less stressful.