You were wise with your money. You saved for your first car and your first house. You used debt sparingly and lived within your means. You helped your children when they needed it and diligently saved for your retirement. The Chartwell Payment Options Program (POP) is designed to reward your financial prudence by preserving those savings. Read on and we’ll tell you how each payment option works.
Payment Option Program 1: The Certainty Plan
The first payment option fixes the monthly rate for as long as you stay with us. The rate will start slightly higher than the current monthly rate on a given suite, but once you fix the rate, it will never increase so long as you remain a resident.* Whether you stay with us for two years or twenty years, the rate will never change.
Payment Option Program 2: The Value Assurance Plan
The second payment option is for those who want the freedom to choose the amount they would like their monthly rate or enrollment fee to be. As in POP 1, your monthly rate will be fixed for as long as you remain a resident.* In the agreement with Chartwell you buy down the rate for a one-time fee. The one-time fee reduces the monthly rate to an amount that works for you. By accessing a portion of your savings and setting the monthly rate at a level that better meets your pension and interest income, your remaining savings are protected. The Payment Options Program gives you greater certainty on the cost to live in a Chartwell residence ensuring that you can build a plan where you never run out of money.
Payment Option Programs are set according to your care and service needs when you move to one of our retirement communities. Should your care needs increase over the length of your stay, those costs will be accounted for separately as they would in our regular monthly fee program.
Click here for Frequently Asked Questions about our POP program.
* Available in Ontario, Alberta and British Columbia only. Conditions apply.