When we are discussing Aged Care with our clients, we often sense a reluctance to pay the lump sum refundable accommodation deposit (RAD) required to secure a room in aged care.

This can be for reasons such as:
➡"I don’t want to lose my money"
➡"The aged care provider won’t pay me interest"
➡"I want to leave an inheritance for my kids"

RAD's are a commonly misunderstood part of paying for aged care.
Did you know that any RAD you pay is refundable to your estate, provided you don’t use this money to also cover other day-to-day fees?

As well as being refundable, it is government guaranteed, can help you receive a higher age pension, and reduces the fees you will otherwise need to pay. For many of our clients, paying a RAD could be a good choice to make.

Chat with our resident Aged Care Specialist Senney Wang to learn more about RAD's, and he can work through the numbers to see what is the best option for you.