What is Waterman Village’s Refund Policy?
June 8, 2023
Q & A
I know that for half of Waterman Village’s independent living residences, a lump-sum life-lease fee is required. What is Waterman Village’s refund policy?
Waterman Village offers life-time refunds that stay the same. They don’t decline. This is unique in Florida for a community that offers all four levels of living on one campus. Not only does this help 90%+ of our residents save money, it also helps them avoid being ‘trapped’. Because, if they move to Waterman Village and desire/need to move out, and this does happen, they will still receive most of their original life-lease fee that they paid back. Unlike some retirement communities where after you live there only a few years, there is a much lower percentage refund back, or there is no refund back at all if one desires to move out or passes away. This is a very important factor to consider before you choose a retirement community for yourself or loved one, and a factor many people overlook and regret later on. Moving to Waterman Village can avoid this very real/stressful scenario in the future.
Some retirement communities require large entry fees that are mostly or completely non-refundable after just a few years of residency, by promising a discounted rate in the community’s on-campus nursing home if ever needed. For the vast majority of people, statistics show this is not a wise financial decision. Why? Nearly all of Waterman Village’s independent living residents who require services in Waterman Village’s on-site nursing home, require it only on a ‘short-term’ basis. And, these short-term stays are often already covered by their Medicare and/or insurance plans. Less than 10% of Waterman Village’s independent living residents have required Waterman Village’s nursing home on a long-term basis.
