This document is part of the Aged Care Gurus Advice Library. You can find templates for SOA Wording, DVA Forms, Aged Care Forms, and Centrelink Forms.
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An insurance or investment bond is an investment which has features similar to a managed fund in terms of an investment whilst also being a life insurance policy. Centrelink assess financial assets held in a Trust structure differently to those held in a client's own name.
For people who enter residential aged care after 1 July 2014 a means tested amount is used to determine how much they can pay for accommodation and care.
An annuity provides guaranteed regular payments for a set period of time in exchange for an initial capital investment. Unlike market linked retirement income streams, annuities give clients certainty - they know how much they will get and how long it will last.
