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, Seaford, East Sussex

Your Advice Steps

01 ➔

Contact Us

Call us on 01323 403 444 or contact us to set up a free initial meeting with one of our financial advisers or mortgage and equity release advisers. We’re happy to meet in person, on the phone or online. Just let us know what you prefer.

02 ➔

Get to know you

This will be a chat to find out a bit more about you, what your financial position and goals are and how we can help. This will be entirely confidential, and you are under no obligation to use our services. We will then give you a plan of what we can do to help.

03 ➔

Sharing your plan

Our advisers will talk through our recommended plan with you giving options to best meet your needs. We will take into account your current financial situation, your goals, appetite to investment risk and timeframes. You will have a chance to ask us any questions and then decide whether you want to go ahead.

04 ➔

Regular reviews

Your financial position will change throughout your lifetime. We are here to help you with regular reviews to make sure your financial plan meets your financial goals and current financial situation. We’ll agree with you when and how we meet on a regular basis to make sure your management plan is right for you.

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