The Financial Strength You Gain By Choosing Westminster Canterbury RichmondGo Back Go Back
Westminster Canterbury Richmond is a faith-based and mission-driven Continuing Care Retirement Community (CCRC) offering Life Care contracts. Why is this such an important detail for your ideal future? Read on as we cover everything you need to know about this type of community, types of contracts such as the Life Care option, the types of homes available now and the true value of living here with your accomplished peers.
What is a Life Care Community?
A Life Care Community refers to a type of community that offers a full continuum of health and wellness services and resources all on the same campus. If your needs ever change, you can rest easy knowing that you will be able to remain on-site. You also will be able to stay independent for as long as possible because we offer everything needed to support a dynamic, healthy lifestyle. With a Life Care Community, you thrive in a socially stimulating environment that gives you freedom from home maintenance and more time to do what inspires you. And you will have the confidence and security that a trusted continuum of care provides.
What is a Life Care contract?
A Life Care contract (Type A) involves two main financial considerations that each provide significant value. A Life Care contract calls for a one-time entrance fee. The cost of this entrance fee is determined by the size of the residence you choose as well as the type of refund selected in the contract. This is the first way that Life Care contracts keep you in control of your future and your estate.
In addition to the entrance fee, Life Care contracts feature monthly service fees that cover the life-enhancing amenities like our Sara Belle November Theater and fitness and aquatic center.
These monthly service fees remain predictable over time, which gives you the peace of mind that your expenses will remain stable no matter what. So even if you need progressive levels of care in the future, you’ll continue to pay the same monthly fees, other than annual increases.
What other contracts are offered?
Other types of contracts exist, and Westminster Canterbury Richmond offers options for a variety of preferences and situations. For example, a Modified (Type B) contract builds in the cost of some healthcare services for the future while keeping the entrance fee and monthly fees lower. This type of contract must be combined with long-term care insurance.
With all that in mind, our most popular contract is the standard (Type A) Life Care contract. It brings you the many benefits of a Life Care contract, such as the comfort of knowing at all levels of care there is stability and predictability.
How can my contract be refundable?
Refundable contracts are available at Westminster Canterbury Richmond. If you choose one of these types of contracts, your entrance fee will be partially refunded when you move. As time elapses, the refundability decreases to the designated percentage you select. However, if you choose one of these types of contracts, your refund will never drop below a certain percentage, depending upon your type of contract. In addition, the entrance fee is often tax deductible, making moving into a CCRC the perfect decision for your next steps in retirement living.
What happens if I run out of money?
As a not-for-profit organization, our mission and longstanding values govern every management and financial decision made by our executives, our staff and our dedicated Board of Trustees. Instead of focusing on the profits for shareholders, revenue generated is reinvested into the community, ensuring Westminster Canterbury Richmond’s dedication to improving the lives of our residents, staff and community we serve.
Uncontrollable circumstances or longevity of life can change a resident’s finances. That’s why we established Westminster Canterbury Foundation’s Fellowship Program. It’s a safety net for seniors because at Westminster Canterbury Richmond, no resident will be asked to leave our community due to an inability to pay through no fault of their own.
What are the benefits to living at Westminster Canterbury Richmond?
Imagine living a maintenance-free lifestyle, where you can nourish your mind, body and spirit. At Westminster Canterbury Richmond, you can! Here, we take care of all your typical home maintenance, like cleaning the gutters and raking leaves. That way, you have more time to enjoy your hobbies. Whether you enjoy painting, staying physically fit or anything in between, we have the facilities in place to support your endeavors. Don’t worry about hiring a landscaper or electrician—we have professionals on-site to help with your home maintenance needs.
What floor plans are available to move in now?
Some of our smaller floor plans, including the James, Gloucester, Hampton and more, are located in the Tower. The Tower Apartments feature 15 appealing floor plans available to you now. Whether you’re looking for a cozy studio or a two-bedroom with a beautiful dining room and well-equipped kitchen, the Tower Apartments truly have it all for the budget-conscious senior. Look out the large windows as the sun rises, then enter your closet to select the perfect outfit for the day. After, visit any of our community amenities via a short, enclosed walkway. When the day is done, come home and take a shower or bath in your one- or two-bathroom home. What’s more is the Tower Apartments offer some of our most affordable ways to take advantage of all the community has to offer. In fact, moving into a CCRC may prove to be more cost effective than staying at home. With many floor plans available today, you can easily find your ideal home for your next steps in your living journey.
Our spacious floor plans give you plenty of room to enjoy all your hobbies. Use your spare bedroom in the James as an art studio or home office. Enjoy hosting family game nights? Rest assured that your guests can use the second bathroom in our York Deluxe apartment, so your private restroom remains untouched.
If you’re looking for a dynamic senior living community with a trusted reputation and great value, consider joining us at Westminster Canterbury Richmond. You’ll find that this Life Care Community truly has something for everyone. Spaces are filling quickly in both our Tower residences, so don’t wait to call us at (877) 277-9908 for more information now.