Financial security when you’re in aged care

When it comes to aged care, everyone’s circumstances are different. One thing is certain though, you want financial security for your loved one. This is where Challenger can help.

Challenger is a well-known and highly respected investment management firm which was established in 1985 and has been listed on the Australian Securities Exchange since 1987. Challenger specialises in providing Australians with financial security in retirement.

One investment it offers is designed specifically for people living in or moving into aged care.

For an initial lump sum investment, the Care Annuity offers many benefits.

  • It provides guaranteed, regular payments for the rest of the person’s life, regardless of how long they live. These payments can be used to pay care fees.
  • It can reduce or eliminate income-tested aged care fees (depending on whether other income producing investments are held).
  • It is treated beneficially for Social Security purposes through favourable income and assets test treatment.
  • It is tax effective.
  • It offers 100 per cent money back in the event of death in the first 10 years.

As with any financial decision, you’ll need in-depth information to allow you to weigh-up whether it is the right investment for your circumstances. You can find full details of the Care Annuity on Challenger’s website.

If you’d like some guidance, you can also call the new Aged Care Financial Advice Helpline on 1800 193 937. Expert advisers will help you think through the options and make the best possible decision for your situation.

Disclaimer: Issued by Challenger Life Company Limited (ABN 44 072 486 938) (AFSL 234670). All financial advice is provided by Money Solutions Pty Limited (AFSL 258145).