Flexible Financial Options
At our Life Plan Community, the financial benefit of Life Care means you pay a one-time Entrance Fee and a Monthly Service Fee (based on the apartment style you select). All services, amenities, and long-term health care are included under our Type A Residency Agreements. The only difference is the amount of refundability.
Choose the investment option that is right for you, with three plans that let you keep control of your money.
90 Percent Refundable (Higher Entrance Fee)
This high refundability option gives you the flexibility to move away, if you choose, and be refunded 90 percent of your entrance fee to roll into a new living arrangement. It also provides peace of mind of leaving something in your estate should you decide to permanently live at Three Crowns Park.
50 Percent Refundability (Lower Monthly Fee)
This option assures that 50 percent of the entrance fee is refunded should you decide to move away, and has a lower monthly service fee than the two other options.
0% Refundable (Lower Entrance Fee)
To enable you to retain some of your assets to invest or spend as you would normally, the entrance fee in this contract “spends down” six percent your first month with us, and two percent each month thereafter. After 48 months, the refundability reaches zero, with no refund back to you or your estate.
A Note for Couples
Couples that come to Three Crowns Park are offered full Life Care benefits for two people with a reduced second person Entrance Fee and Monthly Fee.
To Discuss Your Financial Options
For help deciding which may be best for you, meet with our expert staff and receive personal guidance. Schedule a meeting — call (847) 328-8700 or contact us online.
Your application for residency is qualified based on health and finances. Cost of living/operation increases to the monthly service fee may occur.
Happy National CNA Day to all the incredible CNAs! To our amazing team at Covenant Living, thank you for being the heart and soul of our care every day. 🩺💜 ... See MoreSee Less
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June is Alzheimer’s and Brain Awareness Month—a time to shed light on a journey many of our families know all too well. At Covenant Living, we believe that a diagnosis doesn’t mean the end of a purposeful life.
From our specialized memory care programming to the everyday moments of connection between residents and staff, we are dedicated to providing a safe, engaging environment where individuals can thrive. Whether you are seeking resources for a loved one or simply want to learn more about brain health, we are here to walk this path with you.
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Did you know a Qualified Charitable Distribution (QCD) can be a simple, tax-smart way to support causes you care about?
By giving directly from your IRA, a QCD may help reduce taxable income while also counting toward your Required Minimum Distribution (RMD). Many choose this option as a way to support meaningful programs, including Benevolent Care at Covenant Living.
If you’re curious how it works, your financial advisor or IRA provider can help you explore whether it’s a good fit.
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An IRA charitable rollover allows individuals 70½ and older to reduce their taxable income by making a gift directly from their IRA. - Covenant Living
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An IRA charitable rollover allows individuals 70½ and older to reduce their taxable income by making a gift directly from their IRA.Comment on Facebook