Care Fees Help
Immediate Care Plans
Immediate Care Plans are designed for those already in need of, or receiving, Long Term Care and looking for a solution to Long Term Care Fees. For those looking for a plan to pay potential future care fees, then a Pre-Funded Care Fee Plan may have been suitable, but these no longer exist.
In essence an Immediate Care Plan is an impaired life annuity, but with special tax concessions. As the payments are made directly to the care provider, they are paid free of tax.
You can't just get a rate from an insurer or broker as plans are individually rated on the applicant's details of age, health etc.
At their simplest, the companies providing Immediate Care Annuities will assess the future life-span of the applicant and quote a premium, payable as a lump sum. This will guarantee to pay a set fee directly to the home, free of tax, for as long as the applicant lives. Benefits can be level or index linked. You can select certain guarantees so that, should your relative die soon after taking out the plan, all the capital isnít lost.
It is possible that Immediate Care Plans have a
place in helping fund your care fee needs, but they are not the
complete answer and must be considered together with other
solutions, as described in our service
Care Fees Help is a trading style of Asset
Investment Management Ltd, Drayton Old Lodge, Drayton, Norwich, Norfolk, NR8 6AN
Tel 01603 869988
Authorised and Regulated by the
Financial Conduct Authority. Financial Services Register number 462797. Registered in England and Wales
Tax advice is not regulated by the Financial Conduct Authority