NEW VL 2024 DIGITAL BROCHURE 12-28-23 - Flipbook - Page 25
Entrance Fee P l a n s
Entrance Fee Plans
Vicar’s Landing o昀昀ers three Entrance Fee Plans. All plans provide for full life care bene昀椀ts as outlined in the Residence and Care
Contracts. The Plans di昀昀er in the amount of Entrance Fee paid the way in which refunds are made.
Traditional Entrance Fee Plan (No Age Restrictions)
The Traditional Entrance Fee Plan is designed to accommodate those individuals who wish to pay a lower Entrance Fee. A refund
will be made if Members leave voluntarily during the 昀椀rst 48 months. The refund will be made minus a 4% administrative fee and
2% for each month of occupancy. After residency of 48 full months, the Entrance Fee becomes non-refundable regardless of
reason for leaving the community. In the event of the death of the Member(s) during the 昀椀rst four months of residency, a refund
will be made minus a 4% administrative fee and 2% for each month of occupancy. If the death occurs after month four, no refund
of the Entrance Fee will be made.
50% Refundable Entrance Fee Plan (Age Restrictions Apply)
The 50% Refundable Entrance Fee Plan guarantees that the Member’s estate or designee will receive a refund of no less than
50% of the Entrance Fee paid. A greater refund may be made if the Member leaves voluntarily during the 昀椀rst 46 months of
residency. The refund will be made minus a 4% administrative fee and 1% for each month of residency. After residency of 46 full
months, the refund will be 50%. The death of a Member and the vacating of the residence results in a 50% refund regardless of
length of residency.
The 50% Entrance Fee Plan is restricted to those single individuals that have not reached the age of 85 years at the time
of application. In the event of joint occupancy, one of the two applicants must be 82 years or younger to apply for the 50%
Refundable Plan.
75% Refundable Entrance Fee Plan (Age Restrictions Apply)
The 75% Refundable Entrance Fee Plan guarantees that the Member’s estate or designee will receive a refund of no less than
75% of the Entrance Fee paid. A greater refund may be made if the Member leaves voluntarily during the 昀椀rst 21 months of
residency as shown in some examples below. The refund will be made minus a 4% administrative fee and 1% for each month of
residency. After residency of 21 full months, the refund will be 75%. The death of a Member and the vacating of the residence
results in a 75% refund regardless of length of residency.
The 75% Entrance Fee Plan is restricted to those single individuals that have not reached the age of 85 years at the time
of application. In the event of joint occupancy, one of the two applicants must be 82 years or younger to apply for the 75%
Refundable Plan.