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Care Fees Funding
Paying for care is one of the biggest financial commitments of our lives.
It is therefore of vital important that you are given appropriate advice on all the possible options, by a suitably qualified specialist.
As well as demonstrating how you could best utilise capital and income to fund care fees, one of the main options to consider, is making use of a Care Fees Annuity (sometimes known as an Immediate Needs Annuity or Care Fees Payment Plan) which has a number of valuable benefits:
- Peace of mind, that the benefit is guaranteed to be payable for life, helping you to meet rising care costs, indefinitely.
- Because the benefit is paid directly to a registered Care Provider, this will be completely tax free and will not affect any allowances being received.
- An escalation option can be included, to offset future increases in care fees.
- The premium is calculated on the specific health details of the person needing care, rather than just based on a general rate for their age group. For people who need help with the ‘Activities of Daily Living’ this will generally mean that a lower premium would apply, compared to an annuity for a person in full health.
- Where the total assets and capital exceed the Inheritance Tax (IHT) limit, making a payment to a CFPP will immediately reduce the level of assets liable to IHT, leading to a potentially significant saving in Tax.
Care Fees Investment Ltd are a specialist company, who can help you through the turmoil of making the right decision as to how best to meet your care fees.
Our overriding aim is to help ensure that you can afford the care of your choice for the rest of your life. As one of the first companies to specialise in the care fees sector, with our help you could quickly achieve peace of mind in knowing that your finances are being used effectively to cover your care fees with, in most cases, something left over to pass on to your loved ones.
Furthermore, the work we undertake in providing you with our advice and preparing the financial plan is free, and without any obligation on your part.
Only once you have decided that our recommendation best suits your needs, will we then go on to establish the CFPP (if this was part of our recommendations) at which time our costs are then usually met by the commission payment from the Insurance Company issuing the CFPP.
We guarantee that we will never place you under any pressure, or time constraints, in reaching your decision.
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