Lifetime Care Plan
A Lifetime Care Plan is an immediate needs or deferred annuity. In exchange for a single premium, the Lifetime Care Plan aims to help meet your long-term care costs by providing guaranteed care payments for the rest of your life. These are usually paid directly to your chosen UK-registered care provider.
The Lifetime Care Plan could be right for you if:
- You are at least 60 years old and a UK resident
- You have an immediate or imminent need for long-term care
- You are looking for a reliable, permanent way to help meet the cost of your care fees and want to ensure your funds do not run out.
- You require a care funding solution on a single-life basis
- You have a minimum single premium of £5,000 available from your own authorised funds, or you are applying on behalf of someone as a legally authorised representative.
Key Features:
- Provides guaranteed monthly care payments for life
- Choose when payments begin; Immediately or after a deferred period of one to five years (you must be able to cover your own care costs until payments start)
- Choose from three payment options, including options that can help manage rising care costs
- Capital protection options may return part of your single premium to your estate if you die early, subject to the type and level of protection selected
- Payments can be to split between up to two UK-registered care providers
We understand that decisions around care and funding options can be an extremely difficult time for you and your family. That's why speaking to a qualified financial adviser is crucial in order to discuss available options specific to your circumstances and requirements.
If you don’t already have a financial adviser, later life care experts (SOLLA) can help connect you with experts in your area.
Learn more about our Lifetime Care Plan and important information for you to consider:
Lifetime Care Plan Terms and Conditions