October 2, 2018

Insured for Life

By Mary Huebbe
Marketing Director – Ridgecrest Village

Are you insured enough? Did you purchase car insurance, house insurance and life insurance? Have you ensured your future forever? Ridgecrest Village has a Lifecare program that no one else in the Quad Cities offers. This program secures a senior’s future for the rest of their life. It’s buying a long term, never ending insurance policy that keeps your future health care needs at an independent rate.

Let me try to explain:

If Sally moved into a Senior community as a normal, independent renter she would be paying over $2,000 a month. Later, if her health declines, she would need to move to assisted living where she would be paying over $4,200 a month. If her health declined, even more, she would have to move into a long-term health care center where she would be paying over $7,000 a month.

The average stay in Independent living is approximately 5 years. The average stay in Assisted living is 2-3 years, as well as possible 1 year in Memory Care, and the average stay in long-term health care is 2 years. If at any time during your stay under the Ridgecrest Lifecare Program, you needed to transition to a higher level of care, there would be no additional costs. Using these rounded out figures I will give you the scenario of costs and savings.

In Assisted living the difference in rates would be $2,200 a month, so you would be looking at an extra cost of $26,400/year, multiplied by 3 years, equaling a total cost of $79,200. Now let’s add in the two years in the health care center with a difference of $5,000/month, multiplied that again by 12 months, for a total of $60,000/year. With an average of 2 years in a health center, this adds another $120,000. You would be looking at close to $200,000 in cost. Can you afford that cost?

With the Lifecare program, you would be saving those amounts instead of spending them. Lifecare has a one-time entrance fee along with a monthly fee, but the monthly fee doesn’t increase when you need the higher level of care, even if there are two people and only one has to transition to
the higher level of care, you continue paying just the one monthly fee!

One of the nicest things about moving into our community is that it frees up a lot of your time. No more working in the yard, shoveling snow, cleaning, or worrying about the expense if something breaks down, all of that is taken care of for you so you are free to go out and enjoy life! Give Mary or Karen a call at 563-391-3430 we would be happy to show you what we can offer and you can enjoy a free lunch while you’re at it.

Mary Huebbe is Marketing Director and Karen McCoy is Marketing Consultant for Ridgecrest Village in Davenport, Iowa. For more information about Ridgecrest Village, contact Mary or Karen at (563) 391-3430.

Filed Under: Finance, Retirement

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