Financial Options

Westminster Village’s Independent Living Apartments allow residents to choose the financial option that best suits their needs.  Residents can select from a standard monthly rental option or from one of two Life Occupancy Plan options.

Rental Option: Allows residents to pay a monthly rental fee.  No long-term contract is required and residents who select the rental option are able to upgrade to a Life Occupancy Plan in the future.

Traditional Life Occupancy Plan: Allows residents to pay a one-time lump sum life occupancy fee along with a monthly service fee and entitles the individual(s) to remain a resident of Westminster Village for their lifetime (pending financial qualification and compliance with requirements of residency).  If a resident exhausts their finances, through no fault of their own, assistance through Westminster Village is available to help the individual(s) maintain residency at Westminster Village.  After three years on the Traditional Life Occupancy Plan, there is no return on investment.

The Return on Equity Life Occupancy Plan: Provides the same benefits as the Traditional Life Occupancy Plan, but it also allows for a refund of up to 75% of the initial life occupancy fee upon leaving Westminster Village.

Floorplan and Pricing Booklet 2012