Most people would prefer to live at home independently as long as possible.

With the ticking timebomb of an ageing and growing population, there’s a real need to begin thinking about long term care plans – for ourselves if not our parents.

If you decide you want to make some provision for your care, there are options:

Long-Term Care Products

There are three main ways to prepare financially for your care or to protect your assets:

Immediate Care Plan

If you need to go into care now, your health and age will be part of the assessment and you pay a single premium based on this information. Once you have paid this premium, your care fees are guaranteed to the care home for the rest of your life. This means you know any bank balance, savings or assets can be left to your family.

Deferred Care Plan

If you are in good health and don’t envisage going into care within the next 2 years this plan offers a guarantee to cover your care fees for the rest of your life. Again, the premium will depend on health and age.

Protected Property Trust

Protected Property Trust – if you make sure that the ownership of your property is set up correctly then all your savings won’t drain into your care. This is a complex area and you should seek advice from a suitably qualified adviser.

Get professional help

We have a network of professional independent advisers who can help. Contact us.