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Originally Posted by Lovey2
Freedom Pointe is not similar to buying long term health insurance at all. It does not just cover your care financially, you remain on property and move on thru the levels of care, as needed, with them providing the care. As the person asking can attest, that alone is a big chore for caregivers and the individual...moving thru the care options and finding the right fit at each level. Also, I'd check about that "entry fee" thing. I believe you own your unit and there are several options on the purchase, as to if and how you'd like it bequeathed, etc. It's not just an "entry fee".
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Freedom Pointe, where I live, is in fact, basically an insurance contract. Under the contract, they take care of you until the end of your life—as you move through the various stages of independent living, assisted living, memory care, or skilled nursing—even if your finances are depleted. It is truly care for life. The buyers fee, which they call the entry fee, is in fact, the upfront money you are paying for that care for the rest of your life. While you “own” the unit on paper (which provides some nice tax deductions) once you pass away, the unit reverts back to freedom pointe. You cannot sell it or rent it or bequeath it to an heir. There are some different options on how you pay the initial entry fee, which will determine when you pass away whether or not your estate gets any money refunded from Freedom Point or not. But again, you do not own the unit to the extent that you have any control over it in terms of buying, selling, renting, bequeathing, etc. We have lived here at freedom pointe for six years now, and we absolutely love it. By the way, it is currently the only senior care living community in the villages that provides this life care concept. All other facilities are on a month-to-month rental basis only and there is no commitment on your part, or the facilities part, to provide any kind of continuing care. You or the facility can terminate your contract at any time.