Financing Options for Residential Assisted Living in Arizona
Private Pay
Many families in Arizona opt to pay out-of-pocket for assisted living. This can involve:
- Personal savings
- Retirement accounts
- Selling a home or other assets
- Contributions from family members
- Read more…
Long-Term Care Insurance
If your loved one has a long-term care insurance policy, it may cover some or all of the costs associated with assisted living. Be sure to review the policy carefully, as coverage can vary significantly. Read more…
Veterans Benefits
Eligible veterans and their spouses may qualify for the VA Aid and Attendance benefit, which can help offset the cost of assisted living. Read more…
Life Insurance Conversions
Some life insurance policies can be converted into a long-term care benefit plan. This option allows policyholders to use their death benefit while still living to pay for assisted living. Read more…
Reverse Mortgages
For seniors who own their homes, a reverse mortgage could provide funds for assisted living while allowing a spouse to remain in the home. Read more…
