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Finance Enews
July 2017

La Trobe Financial launches Aged Care Loan Comparison calculator

For many families moving a loved one into aged care is a very stressful experience. On top of this there is a plethora of paperwork and finances to organise. The La Trobe Financial Aged Care Loan is one option for families who are seeking a financial solution to pay for a room in an aged care facility. It may be families simply want some breathing space or it may be that it’s not desirable, or not possible, to sell the family home right now.

In order to illustrate to families and their advisers the cashflow outcome of using the La Trobe Financial Aged Care Loan, we have developed an online comparison tool. This tool allows a cashflow comparison of selling the home and paying a RAD versus using an Aged Care Loan. Users can run different scenarios reflecting a variety of payment options for example 100% RAD or part RAD part DAP, while taking into account estimated rental income and out of pocket expenses. All of the inputs automatically update for pension and means tested care fees ensuring a truly accurate picture.

When using the calculator families can see the clear cashflow benefits of using an Aged Care Loan and be more comfortable that, over time, they will not be losing out. In fact, they will be more likely to be ahead given government incentives to keep the family home.

An innovative solution

To our knowledge, this comparison tool is the first freely available to the public market and is the first to include a financing option.

The difference with our comparison tool

The La Trobe Financial difference is that it doesn’t require a spreadsheet or similar to be run. Users can update scenarios in real time and email the results to themselves. This allows families and their advisers to have a better, more informed discussion about their options. And that’s one of the key benefits - giving families options.

At La Trobe Financial we are proud to be one the few financial services companies providing products to support the senior community at their time of need.

Click to access our new aged care loan comparison calculator

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La Trobe Financial Services Pty Limited ACN 006 479 527 Australian Credit Licence 392385
La Trobe Financial Asset Management Limited ACN 007 332 363 Australian Financial Services Licence 222213 Australian Credit Licence 222213

Terms, conditions, fees, charges and La Trobe Financial lending criteria apply.

Copyright 2018 La Trobe Financial Services Pty Limited ACN 006 479 527. All rights reserved. No portion of this may be reproduced, copied, or in any way reused without written permission from La Trobe Financial.

This publication does not constitute financial advice and should not be relied upon as such. It is intended only to provide a summary and a general overview on matters of interest and it is not intended to be comprehensive. You should seek your own financial or other professional advice before acting or relying on any of the content.