Long Term Care Plans
Long term care plans can ensure that you make the most out of your resources to meet your future needs and expectations when it comes to moving into long term care.
Many of us will need some form of long term care during the course of our lifetimes, having a long term care plan in place can help provide for this need. Which long term care plan is right for you will depend on your own individual circumstances.
Immediate needs long term care plans
The main type of long term care plan currently available is an immediate needs plan. An Immediate needs plan is a type of annuity. In return for a lump sum premium you receive an regular payment towards your care fees.
Immediate needs plans are only available to those who require immediate care. Most providers will require that you have difficulty and need help with at least 2-3 activities of daily living, such as bathing, dressing or eating.
Once you pay the premium for an immediate needs care plan or other type of long term care plan and the cooling off period is over, you will not be able to claim it back even if you change your mind. Investing in a plan that will help you pay for long term care can be a significant financial step, and you should consider all your options carefully before proceeding.
Long term care plans: what options are available to me?
An independent advisor can help to guide you through the long term care plan options that are available to you. For impartial, independent advice speak to a member of a long term care planning advice team at one of our partner firms, for a free no obligation consultation.
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