Lifecare Program
Lifecare Program
Gain Peace of Mind at Our Chicago Lifecare Community
Imagine the ability to plan today for any eventuality. You won’t have to worry about what may happen down the road or how much it will cost. You can have it all – a lifestyle you love, the financial security you want, and access to any future care you may need. That’s invaluable peace of mind for you and your family members. That’s the power of our Chicago Lifecare Community.
What Is Lifecare?
Lifecare is the most comprehensive retirement plan for Chicago seniors ready for independent living. Essentially, a Lifecare plan is a long-term care insurance policy. It provides residents with the peace of mind that health services such as:
and other care services are available, as needed, throughout their lifetimes at predictable costs.
As a Life Plan Community – also known as a Continuing Care Retirement Community (CCRC) – The Admiral at the Lake provides an on-site continuum of care complemented by the financial security of Lifecare.
The Ease of Lifecare Senior Living
When you live in a Lifecare retirement community, there are no concerns about moving to a nursing home or contracting for home care if your needs change. Comprehensive care is available on-site in a community you know and love. As a Life Plan Community with a Lifecare contract, The Admiral delivers a solid plan to protect you and your nest egg.
If you’re considering the relative costs and benefits of staying at home versus living at The Admiral at the Lake with a Lifecare contract, consider the assurance of quality care, health benefits, and tax breaks before deciding.
Lifecare, a long-term care program, provides the confidence that in the event of a change in your health, your health care needs will be cared for by skilled and courteous staff in a familiar setting within the same community.
Discover the benefits of Lifecare enrollment below, or speak to a residency counselor at The Admiral at the Lake now to learn more about living at our Life Plan Community on Chicago’s lakefront.
Download Our Lifecare Guide
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Expect Long-Term Savings With a Senior Life Care Plan
Planning now for long-term care can result in substantial savings when you participate in Lifecare over the years. Explore average health care-related costs at market rates with and without Lifecare planning in place for today’s older adults:
| On your own without Lifecare | Costs with Lifecare | Total Savings with Lifecare | |
| 1 Person | $525,000 | $426,000 | $99,000 |
| 2 People | $1,050,000 | $618,000 | $432,000 |
What Is a Life Plan Community?
A Life Plan Community, also known as a Continuing Care Retirement Community (CCRC), is a residential senior living community for active, independent adults ages 62+ that provides maintenance-free independent living residences, services, amenities, and a continuum of care designed to address residents’ changing needs as they age.
A Life Plan Community ensures that assistance is always available, whether you need a helping hand with everyday activities, rehabilitation, on-site home health care or personal care.
If higher levels of care, such as Skilled Nursing, are required, a Life Plan Community provides the care you need at a predictable cost and in a familiar environment. In addition to the high level of continual care offered throughout your life, there are many other benefits to living at a Life Plan Community like The Admiral.
A Life Plan Community offers residents the opportunity to live without the hassles of home maintenance. This is complemented by an active lifestyle rich in programs, activities, events, and more.
Lifecare Benefits in Retirement
- Financial Management: Your community entrance fee and monthly service fees are based on the size and location of the independent living residence you choose. Since the cost of Lifecare is included in these fees, program participants will have predictable health care costs.
- Estate Planning: Three different entrance fee options are available for those considering their senior estate plan. There are 90%, 50%, and 0% refundable options to benefit the resident or their estate if they were to leave for any reason.
- Long-Term Care Insurance: Some long-term care insurance plans can be used with Lifecare. If your long-term care insurance benefits cover some of your services, your estate will receive more if you have a refundable plan.
- Tax Benefits: A portion of the Lifecare Community entrance fee and monthly service fees may be deductible as prepaid medical expenses. A tax advisor can help you determine these benefits based on your financial profile.
Discuss how a Lifecare plan will benefit you throughout retirement; speak to a residency counselor at The Admiral at the Lake.
Schedule a Tour or Learn More
We would love to tell you more about The Admiral at the Lake, answer any of your questions, and even take you on a personalized tour. Complete the form to get started.
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