Later Life & Long-Term Care Fee Planning

Immediate Care Plans

Unfortunately, sometimes people unexpectedly require immediate care and require immediate advice on how the funding should be paid for.

What is an Immediate Care Plan

Sometimes people unfortunately unexpectedly require immediate care and require immediate advice on how the funding should be paid for.

This can be paid for from income and savings but sometimes an immediate care plan, also known as an immediate needs annuity, is a way to cover the gap between your income and the cost of care for the rest of your life.

The income is paid directly to the care provider and is usually tax-free, giving you peace of mind that your fees are covered, no matter how long care is needed.

Why consider one?

If you or a loved one is thinking about entering full-time care or is already receiving care, an immediate care plan can offer financial security and stability.

The cost of the plan does depend on a few factors, including your age, health, how much income is needed, and whether you want the payments to increase each year.
You can also choose to include optional extras, such as:

  • Inflation-linked income – this helps your payments keep up with rising care fees.
  • Capital protection – this allows some of the lump sum to be returned to your family should you pass away earlier than expected.

Now, it’s a big decision, and not one to be rushed, as it’s not always the right fit for everyone; however, in the right situation, it can offer real peace of mind.

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How we help

When it comes to care for yourself or a loved one, it’s a worrying time, a big topic, and often an emotional one. That’s why Doug, our Financial Adviser, will approach the conversation with empathy, patience and understanding.

He’ll gently talk you through how these plans work, whether they might be suitable for your situation, and what alternatives could also be considered. Doug will also take time to look at your wider financial picture and explain what’s involved, including any medical assessments, costs and the potential benefits.

It’s important to remember that these plans won’t necessarily be the right fit for everyone, but in the right circumstances, they can offer real financial security and peace of mind. That’s why we’ll make sure that you have a clear understanding of all your options before making any decisions.

Speak to us about Immediate Care Plans

Contact us

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