A specialist investment designed to help people moving into residential aged care. It provides guaranteed regular income for life, with a lump sum payable to your beneficiaries or estate upon death.

Whether considering options for yourself, or deciding how best to help someone close to you, a transition into aged care is a complex and often emotional process.

About Challenger CarePlus

Challenger CarePlus (CarePlus) provides guaranteed regular payments for the life of the aged care recipient, helping manage aged care costs and living expenses. Payments can be made monthly, quarterly, half-yearly or yearly.

It provides certainty with estate planning, as upon death, 100% of the amount invested will be paid to a nominated beneficiary(ies) and/or to the estate. Residents of South Australia will receive 100% of the amount invested less the amount of stamp duty initially paid by Challenger.

Who is eligible for CarePlus?

CarePlus is available to those over 18 years of age and:

  • who have an Aged Care Assessment Team/ Aged Care Assessment Service (ACAT / ACAS) approval that specifies eligibility to receive Government-subsidised aged care services (including both home and residential care); or
  • currently reside in an approved residential aged care facility.

The minimum investment in CarePlus is $10,000.

Benefits at a glance

Longevity and market protection - CarePlus can provide the aged care recipient with the comfort of knowing that they will receive regular payments for their lifetime, regardless of how long they live or how investment markets perform.

Certainty and control over estate planning outcomes - CarePlus allows aged care recipients to choose who will receive the lump sum payment upon their death. The payment can be made directly to multiple beneficiaries and/or their estate.

Competitive payment rates - CarePlus uses competitive payment rates to determine the dollar amount of the regular payments.

No fees are payable to Challenger – There are no fees or charges payable to us. Our costs are taken into account when we determine the regular payments received over the life of CarePlus.

As with all investments, CarePlus carries some risks. These risks and how they are managed are set out in the Product Disclosure Statement. We recommend you go through them with your financial adviser before deciding to invest.

Visit the payment rates page to see how this compares to other investments.

Important information
Information provided on the Challenger Websites is intended for Australian residents only and may not comply with the laws of other jurisdictions outside Australia. It is of a general nature and does not take into account an investor's individual circumstances, financial situation or needs or particular investment objectives. It is not intended to be investment advice nor a recommendation or statement of opinion about any particular financial product or class of financial products. As a result, it should not be relied upon in acquiring any financial product or service and is provided in good faith and derived from sources believed to be accurate and current at the date of publication. See Conditions of use for more information.