How can I fund the care I need at home?

The waiting list for government-funded in-home care packages is significant. There are currently more than 100,000 people on the waiting list, and many people have to accept a package providing a lower level of care than needed. You don’t need to wait. You can use your Household Capital to choose your own in-home care supplier and services. Maybe you’d like someone to do the cooking, weed your garden or take you shopping. Having the right in-home care services, delivered by someone you like and with the regularity you need, can enhance your wellbeing and help you to Live Well At HomeTM. Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

Residential Aged Care Funding

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Funding residential aged care

For many older Australians, some support in their home is enough to allow them to continue living independently through most of their retirement years. However, many will lose physical and/or cognitive abilities as part of the ageing process, which often results in the need for a higher level of care to be provided in a residential aged care setting.

The challenge is, many Australian retirees don’t have the savings required to cover the costs that come with accessing residential aged care. As a solution, they end up selling the family home they cherish so much. However, this doesn’t have to be the case.

A Household Loan allows you to access the wealth built up in your home and in turn, keep your home even as you move into residential aged care.

It's As Easy As 1, 2, 3!

CONFIRM ELIGIBILITY

Use our online calculator to see your accessible Household Capital.

PERSONAL CONSULTATION

Experience one-on-one personalised service with a retirement specialist.

APPLICATION

We guide you through every step of the application process.

Other Uses For Your Household Capital

You can utilise your Household Capital via one or a range of ways from super top-up to becoming the bank of mum and dad.

Top up

Increase retirement income or set aside a contingency fund

Refinance

Refinance a mortgage or consolidate debts

Live

Fund home repairs, renovations, or expenses

Care

Cover medical, dental, in home or aged care

Give

Gift family with a home deposit or education

Calculate Your Home Equity

Learn how accessing your home equity could help you consolidate debts or increase your income.

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Frequently Asked Questions

Can Household Capital help the transition to residential aged care?

Some of our customers have needed to make the transition to residential aged care. Refundable accommodation deposits (RADs) can be complex and expensive. For many, it may seem the only option available to fund aged care is to sell the family home. This may not be the best decision financially, emotionally or for your beneficiaries. Right now, your home is a non-assessable asset for your pension and a capped asset for assessing aged care fees. That could change if you sell your home. A Household Loan provides choice and flexibility. It’s particularly useful when one person is moving into residential aged care and the other wishes to remain in the family home. You can use your Household Capital™ to:

Pay the RAD and broaden your care choices.
Draw an income stream to pay the daily accommodation payment (DAP).

Whether it’s an upgraded room or a better quality facility, you can afford the care you deserve.

Can I use a Household Loan to fund in-home care?

Yes. A Household Loan can be used to pay for your in-home care requirements, giving you greater choice and flexibility in terms of the services you can access.

Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

Can I use a Household Loan to pay Aged Care costs?

If you or a loved one need to move into residential aged care, a Household Loan can be used to pay either the Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP).

Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

How can I use a Household Loan to fund aged care needs?

If you or a loved one need to move into residential aged care, a Household Loan can be used to pay either the Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP).

What residential aged care costs should I consider?

When it comes to residential care, there are three main layers of cost:

Basic daily fee, which is a flat fee paid by all residents to cover daily living expenses and is set at 85% of the single-person rate of the Age Pension.
Means-tested care fee, which is an extra contribution that some people pay, as determined through a means assessment.
Accommodation fee, which covers the cost of accommodation in the aged care residence and its maintenance.

Residential Aged Care Funding

Funding residential aged care