1.1.G.70 Guaranteed amount (PLS)
Example: A person has a property valued at $200,000 that he/she offers as security for his/her PLS debt. He/she wishes to nominate a guaranteed amount of $85,000 to allow himself/herself the flexibility of moving into a retirement village or hostel at a later date. When determining his/her eligibility for payment under the PLS, the value of real assets will be $115,000 (i.e. $200,000 minus $85,000). This is the difference between the total value of the property and the amount of equity he/she wishes to retain.