New retirement living contracts address affordability, accessibility and anxiety

Leading retirement provider Aveo Group has today announced the release of new contracts to buyers which provide greater certainty and flexibility for Australians considering entering retirement living.

Aveo Group’s new suite of contracts, which are available to buyers from today, fulfill a promise made last month to introduce new contracts which will provide prospective residents with a choice of three options that offer enhanced conditions, greater flexibility and improved affordability.

The move comes three years after the retirement provider introduced the industry leading Aveo Way contract in 2015, which is now joined by Aveo Essentials and Aveo Certainty.

Aveo Group CEO Geoff Grady said the Aveo Certainty contract in particular addresses one of the greatest pain points for Australian retirees considering entering into retirement living – the need to transition quickly and seamlessly into higher levels of care when their care needs increase.  This is often at a time when financial pressures and advanced care requirements need to be resolved quickly.

“We understand that when an individual’s care needs change their living circumstances need to be assessed rapidly to ensure higher care can be accessed immediately, however financial concerns can put immense pressure on seniors and their families,” Mr Grady said.

“Our Aveo Certainty agreement aims to alleviate the feeling of uncertainty at the most stressful time of someone’s life by allowing residents to seamlessly move into higher levels of care or between our communities.”

The Aveo Certainty contract ensures residents can transfer to a Freedom Aged Care unit without incurring an additional Deferred Management Fee (DMF), and also enables transfers to certain residential aged care facilities seamlessly.

Aveo Certainty residents can also transfer between communities in the Aveo portfolio around Australia under certain conditions enabling them to stay close to their families.

Under the new Aveo Certainty contract, the transfers are covered by a set fee of $2,000 per annum paid upon exit.

Geoff Grady describes Aveo Essentials as a contract suitable for seniors looking for an easy and affordable entry into retirement living.

“The decision to release these new contracts ensures Australian seniors have access to choice and increased financing options as they enter a new phase in their life.”

With more than 8.7 million Australians expected to be over the age of 65 by 2056*, the need for affordable and flexible retirement options is becoming more critical.

“Supported by these market leading agreements, Aveo is in a unique position to continue leading Australia’s retirement living industry in delivering exceptional care services to our residents across our 93 communities,” Mr Grady said.

Click here to learn more about Aveo’s new contracts

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