We offer two solutions to funding Long Term Care:
- Immediate Care Plan – for those who need Care to start immediately and want a known, regular income for life to help meet Care costs. This Plan can also include Capital Protection – to ensure a minimum percentage of capital is returned from the Plan if death occurs within a pre-agreed period, a separate decreasing term assurance policy is issued.
- Deferred Care Plan – for those who have the means to cover their own Care fees for the short term but would like the assurance of an income for life that starts at the end of the selected deferred period.
|Feature||Immediate Care Plan||Deferred Care Plan|
|Age range||From 60, no maximum||From 60, no maximum|
|Purchase price||Minimum £5,000||Minimum £5,000|
|Money Back Guarantee||Yes - % of capital invested is returned if death occurs during first 6 months*||Yes - % of capital invested is returned if death occurs during first 6 months*|
|Capital Protection||Yes - 1% to 75% of investment||No|
|Benefits payable outside of Estate on death||Where Capital Protection applies and is written under trust, the benefit is paid outside of the estate for Probate purposes, but will likely be included within the Estate for Inheritance purposes.||No|
|Escalation||1% to 8%||1% to 8%|
|Income Payment frequency||Four weekly
*The money back feature comes as standard with these policies.