Product Features
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.
Product Features |
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| 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, less income paid, is returned if death occurs during first 6 months from the plan commencement date* | Yes - % of capital invested is returned if death occurs during first 6 months from the plan commencement date* |
| If a client dies within the first 12 months from the plan commencement date, and Covid-19** is recorded on the death certificate as a contributory cause of death, we’ll return 100% of the premium, less any income paid. This is a temporary feature to be applied automatically to all new care plans purchased since 14 May 2020 until further notice. | If a client dies within the first 12 months of the plan commencement date, and Covid-19** is recorded on the death certificate as a contributory cause of death, we’ll return 100% of the premium. This is a temporary feature to be applied automatically to all new care plans purchased since 14 May 2020 until further notice. | |
| 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% |
| RPI | Yes | No |
| Income Payment frequency | Four weekly Monthly |
Four weekly Monthly |
*The money back feature comes as standard with these policies.
**Also includes Coronavirus or SARs-Cov-2 as a contributory cause of death.
