Long Term Care – Immediate Needs Care Plan
An Immediate Needs Care Plan is a long term insurance product which will pay a regular, tax free income to your registered care provider, starting immediately on commencement of the plan. The amount you will receive is agreed at outset and will continue for the rest of your life, regardless of how long that is.
If, for whatever reason, you leave care at any point and return home or move to the home of your family, the income will then be paid directly to you. In this situation, the income would lose its tax-free status. However, it can be converted back to being tax free should you return to the care of a registered provider again at a later date. To arrange a free initial discussion at your home, workplace or our offices contact us today.
A known Income to cover The Cost of Care
An Immediate Care Plan could be suitable for you if:
- You need funding for care to start immediately or within 12 months
- You have access to a lump sum to purchase the Immediate Care Plan
- You want the certainty of a regular, known income for the rest of your life
- You understand that if you die early in the plan, you may not get back the full value of your initial investment
- Want to limit the risk of outliving your savings
- Want no investment risk
- Want to be able to reduce the inflation risk by choosing an escalating income option
Paying for an Immediate Needs Care Plan
- You buy an Immediate Care Plan with a one-off lump sum.
- The size of that lump sum is calculated individually and is based on the income you require, your age and your state of health at the time you apply.
- All applications are fully underwritten so your medical history will also affect the premium.
- It will also be affected by the cost of additional features, for example, escalating benefits to protect your investment against inflation and whether you choose Capital Protection Insurance.
Paul works with you to identify your goals providing clear and concise advice, undertook all the necessary research and paperwork and was friendly and courteous at all times. He always responds promptly to requests for help and assistance.Brian
We are not tied to any financial institution and therefore offer you truly independent advice. A free, initial no obligation review meeting can take place at our offices in Eastbourne East Sussex, at your workplace or in the comfort of your home.
If you are considering taking independent financial advice we would love to talk to you. Call us without obligation or complete the enquiry form and we’ll contact you as soon as we can.
We are happy to serve clients with any level of wealth.
Call 01323 403 444 or use our secure form via the button below: