Long Term Care

Are you concerned about how you are going to pay for your nursing home fees or those of an elderly relative?

As a population we are living longer and the need for care with an aging population is growing all the time with the time spent in care also increasing.

If you do not qualify for financial help from the local authority, you will normally have to pay towards the cost of care out of your own income and savings (potentially even having to sell your own home to meet the costs).

The cost of care is very expensive and increasing all the time fees can range from £800 per week to around £1,200 per week, a cost that can very quickly erode capital from savings. Local authority help will only cover the health needs it does not cover the “hotel” costs of accommodation and food etc.

An Immediate needs annuity, whist an expensive outlay, can significantly pay for itself over the lifetime of the client. The peace of mind it brings in knowing that a loved one will be looked after for the rest of their lives cannot be under estimated.

We can provide indicative quotes that will give an idea of the initial cost, at the same time we are able to discuss all options available to you to provide the cost of care with emphasis on keeping value in the estate where possible.

Updated news on the care capping of £72,000 which was due to be implemented next April this has now been postponed until 2020. This means that cost of care remains in most cases the responsibility of the person in need.


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