For seniors and their families needing financial options in order to make living in a senior living community an option, there are funding programs that offer a variety of financial choices. Please take some time to consider these programs, and learn more about how these options can help you and your family.
VA Aid & Attendance Pension Benefits
The Veterans Health Administration Enhance Pension program is available to assist veterans and surviving spouses financially in an assisted living facility. Please explore all your options by visiting www.veteransaid.org.
Bridge Loan Program
We work with financial services companies that offer loans structured as lines of credit with low monthly payments that you and your family can use to supplement or finance your monthly rent:
Pay for rent while waiting for a home to sell
Pay for rent while waiting to settle a life insurance policy or a VA benefit to arrive
Finance move-in fees or supplement monthly rent
Life Insurance Settlement Program
We work with insurance funding groups that will liquidate an existing life insurance policy in 30-90 days for a lump sum payment that is higher than the cash surrender value.
Eligibility requirements:
Age 65 or older (ages as young as 55 can be considered)
Any type of life insurance policy with a combined death benefit value of $50,000 or more
A life settlement is the sale of an asset, not a loan, and has no restrictions on use of money or requirements to be secured or paid back
The policy owner is no longer responsible for paying premiums once a life settlement is complete
To learn more about funding options, contact Chris Dennis: cdennis@oxfordholdings.com
