When it's time to consider assisted living for a loved one, you may be concerned about how to pay for this new type of housing and care. Fortunately, there are many options you can choose from to help cover the costs. Here is a look at just some of these options to help decide which one is right for your family. Life Insurance If your loved one has a whole life insurance policy, one option to help cover the costs of assisted living is to cash this policy in.

If your elderly parents need a little extra assistance, in home nursing care can provide your parents with the assistance they need while allowing your parents to still stay in their home. In home nursing care providers can provide a variety of different services, from medication reminders to physical assistance with hygiene issues to Alzheimer's care to skilled nursing care. There are a variety of factors that affect the cost of in home care and various methods of paying for in home care.