June 6, 2024
Stronger Discovery to Tackle Senior Living’s Affordability Problem
Affordability is one of the biggest challenges facing senior living today. In this Senior Living Minute, Nick Jasmon discusses how stronger discovery conversations can uncover financial resources that families may not even realize they have. From veteran benefits to long-term care insurance, understanding a prospect’s full financial picture is key to making senior living more accessible.
Stronger Discovery to Tackle Senior Living’s Affordability Problem
Right now, senior living is at a crossroads as we try to address the growing affordability issue. Everyone talks about the seniors who can’t afford our current product, and at ELEVATE Senior Living, we are working on a new development solution—one that delivers beyond expectations while remaining financially feasible.
When it comes to understanding what prospects can afford and what their financial picture looks like, it all starts with discovery. The biggest challenge sales leaders face is feeling the pressure to churn through leads when, in reality, more time should be spent on discovery.
By having deeper conversations, we can uncover valuable financial resources. For example, a prospect may have had a spouse who was a veteran, making them eligible for veteran benefits. Simply discussing available options with families—such as long-term care insurance or small contributions from multiple family members—can make a significant difference.
We don’t want adult children to feel obligated to contribute financially, but the reality is that affordability remains a pressing issue. Until we proactively tackle it, it will continue to be a challenge, requiring innovative solutions to make senior living more accessible.