19/06/2026
Should you pay a lump sum or a daily fee for your nursing home room?
In this Episode 5 highlight of Outreach, Daniel from Services Australia explains one of the most important financial decisions people face when entering residential aged care.
🌟 The Lump Sum (RAD)
Pay a larger amount upfront as a refundable deposit. When you leave aged care, the remaining balance is returned to you or your estate. Depending on your circumstances, this option may also affect how your assets are assessed.
🌟 The Daily Payment (DAP)
Keep your savings where they are and pay a smaller accommodation fee each day. While this may reduce the upfront cost, those daily payments can add up significantly over time.
The key question isn't which option is better, it's which option is better for your situation.
That's where Services Australia can help, comparing different scenarios and showing how each choice may impact your finances over the years ahead.
You can schedule a meeting with an Aged Care Specialist Officer (ACSO) if you need assistance with this.
Check out the full episode on Youtube and Mixcloud via the links below:
🎥YouTube: https://www.youtube.com/watch?v=NJy6b_5qAno
🎧MixCloud: https://www.mixcloud.com/Outreach_Podcast_Radio/outreach-episode-5-services-australia/
OUTREACH is a show dedicated to aged care, disability, and the power of community connection proudly brought to you by &
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