Australian Seniors Insurance: Tips For Moving To A Retirement Village

For many seniors, the decision to move to a retirement village can mean a major life change. That's why it's essential to do your research first to find the best option for you.

A retirement village is a community for seniors, and entry is generally restricted to people aged 55 or over. The types of accommodation available can vary substantially, but most retirement villages include common areas and facilities that are available to all residents.

The level of care available also differs between retirement villages. Some offer self-care units for independent living, with personal care and services available on a user-pays basis. Other retirement villages have serviced apartments for assisted living, with the price including the provision of regular services.

Understanding the costs
You should also understand the different fees charged by retirement villages. These can include an entry price when you move in, a departure fee when you leave, and recurring service charges during your stay and possibly afterwards.

The financial side of retirement village living can be complex. Make sure you fully understand your obligations before signing anything. You should also consider the effect that any financial contracts could have on your partner or family - and you may need to update your will.

Another way to protect your family is by considering funeral insurance. This means that if the unfortunate happens, your loved ones will be paid a lump sum benefit to help cover funeral costs so they can avoid financial distress at an already difficult time.

And by choosing Australian Seniors Insurance Agency, for example, you can choose a plan that pays a benefit of anywhere between $3,000 and $15,000, depending on your needs and budget.

Find out more
To find out more about the benefits of funeral insurance, request an information pack or get a fast funeral insurance quote online.

Advice on this website is general only and does not consider your individual objectives or financial situation. Please review the relevant PDS and the FSG available at seniorsfuneralplan.com.au to ensure these products are right for you. Terms and conditions apply. Australian Seniors™ Funeral Plan is issued by Hannover Life Re of Australasia Ltd ABN 37 062 395 484 and promoted by Australian Seniors Insurance Agency™ Pty Ltd (ABN 48 097 746 391).