Why Not Stay at Home for Free?
Lifecare is the most comprehensive retirement plan for independent living residents in Chicago. If you’re considering the relative costs and benefits of staying at home and living at The Admiral at the Lake Lifecare community, consider the assurance and quality of care, health benefits, and tax breaks before you make a decision.
Your Costs are Known
Your entrance fee and monthly service fee are based on the size and location of your residence. Lifecare is included in these fees. There are no unexpected health care costs, just your regular monthly service fee.
We have three entrance fee options that benefit estate planning. There are 90%, 50%, and 0% refundable options that benefit the resident or their estate if they were to leave for any reason, or that lower your entrance fee if that’s not desired.
A portion of Lifecare community entrance fees 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.
Long-Term Care Insurance
Some long term care insurance can be used with Lifecare. Your long term care insurance may cover some services which will increase the amount received by your estate if you have a refundable plan. Please contact your insurance representatives to further explore how their long-term care insurance benefits may be applied.
This easy-to-use calculator to find out which residential plans are a preliminary financial match for your future.
Savings For You
Up to $45.8k in savings for Independent Living Residences when you close by December, 2020.
Knowing The Facts
Lifecare at The Admiral at the Lake represents a tremendous value and a wise investment toward future peace of mind.
Senior Living Master Class Series
Industry experts will share insights into the importance of Lifecare, the stock market and your investments, today’s real estate market, and the benefits of retirement community living today and tomorrow. Learn about the smart choices that can help set you up for a stress-free future.
Hear from financial experts in our latest master class, Experts in Retirement Living.
A Complete Plan
If a resident has the need for Assisted Living, Memory Support, or Skilled Nursing they have priority access, preferred pricing, and the costs are covered by Lifecare. And your care is provided by people you know and who know you.
Support When You Need It
If the time comes Care & Support is required, together with their physician, family, and our nursing staff we’ll develop an individualized care plan. If residents prefer not to move we have an on-site home health care agency that’s available 24/7 or residents can select any provider for assistance if they prefer to stay in their independent living residence, but need a little help with everyday activities.
Values & Purpose
We Are Not For Profit
We are not driven by profit. Our leadership and board of directors mission is to provide the best resident experience while reinvesting in our residents. Unlike for profit providers, we are not incentivized to raise fees or alter services by external forces.
Often if someone needs extra care they suddenly find themselves a stranger in a new place at a time when they need love and support the most. We have Care & Support services in the same building. Knowing that if you need care, the same friends, neighbors, and people you’ve known for years are there for you is incredibly important. It ensures you’re living a connected life when it matters the most.
Lifecare is a Promise
If for reasons outside of their control, a resident outlives their resources and is unable to pay their monthly service fee, their coverage continues. Our Foundation covers their fees for as long as they need, they are always secure and their families will not be required to pay.
The term Independent Living sometimes gets a bad rap. That it’s a retreat or giving in to something. Nothing could be further from the truth. Independence is about freedom. The freedom to focus on your life, released from many of life’s competing priorities and hassles. Your time can be focused on the people and things you love.
Interested in residency, below are helpful resources.
Details and information on currently available residences.
Detailed pricing information, planning tools, and other resources.
Get detailed information on all aspects of Life at The Admiral.