Health Insurance Options for Equity release for older citizens

marymary2

Registered User
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Have been paying for care for my 2 elderly and very dependent parents (80's plus and limited income, HSE care not enough) for a while and money is running out. €1,600 net per month. Due to my own personal circumstances am unable to borrow . Same situation applies to siblings.

Know government is looking at this issue but 2020 is the earliest they are promising so not holding out hope for this.

So was wondering about equity release schemes. Know there's a lot of downsides but not worried about inheritance. Are there any companies currently doing these? Can't find any online. Seniors Money seems to be main one but they are closed to new applications.

Thanks for any help you can give.
 
Unfortunately there doesn't seem to be any options at the moment Mary. Seniors Money have been indicating for a long time that they'll get back into the market, but no actual movement on it.
Similarly AIB suggested getting into the area over a year ago, but I've heard nothing concrete on it yet.

Maybe someone else will have better news.
 
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I presume that they are living at home?

Could you find an investor who would buy the house from them and rent it back at the market rent?

Brendan
 
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