Lifecare Program

senior couple at Millenium Park

Lifecare Program

Peace of Mind with Lifecare

Imagine the ability to plan today for any eventuality. You don’t have to worry about what may happen down the road or how much it’s going to 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 the power of Lifecare.

Lifecare is the most comprehensive retirement plan for Chicago seniors ready for independent living. As a Life Plan Community, The Admiral at the Lake provides a continuum of care services on-site, complemented by the financial security of Lifecare. Basically a long-term care insurance policy, Lifecare gives residents peace of mind, providing health services such as Assisted LivingMemory Support, and Skilled Nursing as needed throughout their lifetime at a predictable cost. A Life Plan Community with a Lifecare contract, moving to The Admiral is a solid plan that can 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 you make a decision. Lifecare, a long-term care program, provides you the confidence that in the event of a change in your health, your health care needs will be taken care of 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.

group of seniors sitting outside having a glass of wine

Download Our Lifecare Guide

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What Is a Life Plan Community?

A Life Plan Community, also known as a Continuing Care Retirement Community or CCRC, is a residential senior living community for active, independent adults ages 62+ that provides maintenance-free residence options, along with services, amenities, and a continuum of care designed to address the changing needs of residents as they age.

A Life Plan Community ensures that whether you need a helping hand with everyday activities, rehab or on-site home health care, assistance is always available. If the time comes when higher levels of care are required, such as Skilled Nursing care, a Life Plan Community provides the care you need at a predictable cost and 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, complemented by an active lifestyle rich in programs, activities, events and more.

Lifecare Benefits in Retirement

  • Financial Management: The program entrance fee and monthly service fees are based on the size and location of the residence. 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, it will increase the amount received by your estate if you have a refundable plan.
  • Tax Benefits: A portion of the 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.

Discuss how a Lifecare plan will benefit you throughout retirement; speak to a residency counselor at The Admiral at the Lake.

Expect Long-Term Savings with Lifecare at The Admiral

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 with and without Lifecare planning in place for today’s seniors:

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

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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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