10/17/2026
As we and our loved one's age, we often have to come to terms with the fact that living independently at home may no longer be best. That’s when it’s time to consider moving into a senior living community. But how will you pay for it? To pay for senior living, you may consider a combination of these methods:
1: Private funds
Typically, a combination of savings, Social Security benefits, pension payments and retirement accounts
2: Proceeds from selling a home
This eliminates the financial and physical burden of maintaining that home if it is no longer occupied.
3: Long-term care insurance
Many experts suggest investing in this type of coverage before the age of 55 as part of an overall retirement plan.
4: Veterans’ aid
For more information about the Veteran’s Pension Benefit with Aid & Attendance program, visit your local VA center.
5: Life insurance
Oftentimes an insurance company will buy back your policy at a portion of its value. Consult a financial advisor before considering this option.
Senior living is an investment in the health, safety and well-being of yourself or your loved one. Contact us today to find out your options for paying for senior care.