In relation to nursing home fees, in particular that portion payable which is based on the value of the home under Fair Deal assessment:
If a person has sufficient savings to pay for the 3 years that the home levy applies rather than availing of the loan which in value increases in line with the Consumer
Price Index does that approach make sense?
Taking account of the risk of steep inflation affecting the amount which eventually must be repaid to Revenue, and the fact that interest rates on savings are currently
very low, and also that by reducing savings the amount levied on savings will reduce over the 3 year period, is it best in these circumstances to forgo the loan?
If a person has sufficient savings to pay for the 3 years that the home levy applies rather than availing of the loan which in value increases in line with the Consumer
Price Index does that approach make sense?
Taking account of the risk of steep inflation affecting the amount which eventually must be repaid to Revenue, and the fact that interest rates on savings are currently
very low, and also that by reducing savings the amount levied on savings will reduce over the 3 year period, is it best in these circumstances to forgo the loan?