Quote:
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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At Freedom Pointe, you "own" your independent living unit, and have several optional "entrance deposits", the cheapest of which is "no refund". But, unlike typical ownership, you cannot sell the unit to anyone except Freedom Pointe, and you only get the refund if and when they find another buyer. Also, if you permanently move from independent living to assisted living or the nursing facility, you really have no choice but to give up ownership of your independent unit, and you have no ownership at the other facilities. The entrance deposit also entitles you to discounted rates in the assisted living and nursing facilities and a lifetime care guarantee. That is why I consider it similar to long term care insurance. I think the guarantees they make are underwritten by an insurance company. Also, they give you "priority" access to the assisted living and nursing facilities, but they don't guarantee that you will be able to remain at the Freedom Pointe property.