Keeping You Safe At Home
Most Australians prefer to stay in their home as they grow older, but help may be required along the way. Government-funded packages are often the first choice to cover in-home and residential aged care costs, but waiting lists are long and when received, don’t always meet your needs - particularly where specialist care is required. Other costs - medical appointments and procedures, as well as keeping up with rising health insurance premiums - can become difficult on a fixed income.
In-home care and residential aged care can both be necessary at different stages of your retirement. Drawing on your Household CapitalTM allows you to skip the queue and provides choice and flexibility.
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Calculate Your Home Equity
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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.
Can Household Capital help the transition to residential aged care?
Some of our customers have needed to make the transition to an aged care facility. 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-assessible 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 where 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.
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).
How can I use a Household Loan to fund aged care needs?
Through a Household Loan, which is a type of reverse mortgage, you can access your Household Capital to choose your own in-home care supplier and services. Maybe you need someone to help weed your garden, take you shopping or provide vital nursing care. Having the right in-home care services, delivered by someone you have a rapport with, can enhance your wellbeing and help you to make the most of remaining in your family home. Alternatively, if you or a loved one needs to transition to residential aged care, a Household Loan provides choice and flexibility; it can pay for the accommodation deposit or daily fees, and broaden your care choices. Whether it’s an upgraded room or a better quality facility, you can afford the care you deserve.