 Home | About Us | FinancingOptions to make choices that fit your budget
Active living town homes, cottages and apartment homes at Presbyterian Manor communities may be financed through three plan options. Three locations in Kansas, Arkansas City, Clay Center and Aberdeen Village in Olathe, have different options for financing your retirement living.
75/25 (Estate Preservation) Plan
The 75/25 Plan also known as the Estate Preservation Plan provides you with the means to preserve personal financial resources for future use. It is designed to allow for 75 percent of the funds invested as a deposit on your home to be refunded to you or your estate upon leaving the Manor community. The non-refundable 25 percent of your deposit remains with the Manor to provide for remodeling the vacated unit and assist the Manor in furthering its mission to provide quality services to residents. Using this method of funding reduces the monthly fee.
Life Use Plan
The Life Use Plan provides you with the lowest up front investment of the financing plans. It also represents paid “rent.” With 20 percent of the deposit non-refundable, the remaining 80 percent is reduced 10 percent each year over 10 years. Any remaining funds at the time you leave the Manor community are returned to you or your estate.
For example, a one-bedroom apartment Life Use Plan investment of $87,500 amortizes as follows:
$87,500 x 20% = $17,500 with $70,000 on deposit
Available refund: |
| Year 1 = $63,000 |
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Year 6 = $28,000 |
| Year 2 = $56,000 |
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Year 7 = $21,000 |
| Year 3 = $49,000 |
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Year 8 = $14,000 |
| Year 4 = $42,000 |
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Year 9 = $ 7,000 |
| Year 5 = $35,000 |
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Year 10 = $-0- |
Refunds for deposit plans are generally made within 30 days of a resident leaving the community; however, it is contingent upon re-occupancy of the town home, cottage or apartment.
Monthly Fee
Both the Estate Preservation and Life Use Plans are accompanied by a monthly fee based on the size and type of home. These fees are used to cover the cost of maintaining your home and the services available to you at the community.
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Learn how you can sample retirement freedom—free!
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Deposit for Care Benefit
Should you choose one of the deposit plans, if you need to move within the Manor to higher levels of care, you can access the Deposit for Care toward the higher monthly fees for assisted living or the health care center. Should you leave the Manor, the remaining balance, excluding the non-refundable portion, is refundable to you or your estate. |
Rental Plan
Most locations offer a rental plan option, though this may not be available on all types of active living homes. This provides you an option that does not require a major capital investment up front. There is no long-term lease agreement. The monthly fees are based on the type of home you’ve chosen and the community. These monthly fees are generally significantly higher than for those who have chosen a deposit option.
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