Continuing Care Retirement Community
Retirement center with a focus on group living arrangements for senior citizens. The center has separate apartments for each resident as well as an on-site nursing facility. Generally, these centers are quite expensive; they require monthly fees as well as a one-time payment (entrance fee). The monthly fee entitles the inhabitant to an apartment, one to three meals a day (depending on the facility), maid service (in some facilities), medical service (if needed), and nursing home care (also, if needed).
Popular Insurance Terms
Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over the assets. The grantor of the trust ...
Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. ...
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