Private Pay

In-Home Healthcare You Can Trust

Private Pay

There are several options when paying for home care. We want you to be aware of your options so you or a loved one can remain in the security and comfort of your own home surrounded by your personal possessions and family memories.

  • Private funds: Checking, savings, IRA, money market, etc.… Payments can be submitted by check, credit card,  and online banking.
  • Home Equity Loan: A home equity line of credit is a loan that is much like a credit card, except with lower interest rates. Borrowers are told the maximum amount they can borrow and then they can take any amount of money from the bank as needed.  Monthly payments depend on how much is borrowed, but typically these are very low, often “interest only”. Revolving Equity Lines of credit are also available at affordable interest rates.
  • Reverse Mortgage: A reverse mortgage is a loan that you take against your home’s equity. The funding you receive from the reverse mortgage can be either in a single lump sum, in monthly installments or as a line of credit. The loan does not have to be paid back until the last borrower (often couples will both sign) passes away or moves from the home for one full year. The loan is typically paid back in full with interest when the home is sold.
  • Viatical Settlement: A viatical settlement is the sale, by the policyholder, of their life insurance to a 3rd party in exchange for a lump sum of cash. The buyer pays the policyholder a lump sum and then takes over monthly premiums payments and collects the death benefit when the original policyholder passes away.

Complimentary In-Home Assessment

Call (888-482-8201) or email us today to schedule an in-home care assessment with an experienced and caring Shorecare Representative.