Call us for a free quote
0118 958 5571
(9am - 5pm Monday to Friday

a British Life British Life website

Let us help you find the right Long Term Care Funding Solution

We have access to a team of advisers who specialise in funding Long Term Care for elderly relatives through Immediate Needs Annuities and other solutions.

The quotation service* is completely FREE and you are under no obligation to purchase.

Personal Service

We have carefully selected specialist partners to help you compare different types of annuities, annuity rates and the various options from the UK’s leading providers.

Instead of pushy sales people, we offer a more personal service that provides a thorough market perspective and allows you to make an informed choice.

Immediate Needs Annuity
(also known as Long Term Care Annuity)

An Immediate Needs Annuity can be purchased for an elderly relative who is already in residential care, or a nursing home, or is about to be admitted. The annuity is paid directly to the care provider for the life of the individual, and is treated as tax-free by the Inland Revenue.

It is purchased with a single lump sum payment to the insurer in exchange for an income to cover all or part of the costs of long term care for the life of the individual. It is also possible to defer the annuity depending on individual circumstances, such as the release of assets from the sale of a house, for example.

Other features can be added to the annuity including escalation rates to protect against rises in inflation, and capital protection used to insure a proportion of the annuity in the event that the person in care dies much earlier than expected. The protected amount of capital reduces in line with the income paid from the annuity. Any remaining capital that has been protected, can be paid back to the estate of the deceased. The protection part of the policy ends once you have received the equivalent in income payments as the original sum protected.

When considering an application, insurance underwriters are likely to consult the Anderton Diagnosis Index. This considers any medical conditions suffered by the person in care as well as their ability to perform certain activities of daily living.

For an overview of the current Long Term Care situation, click here.

* the quotation / telephone service is provided in partnership with Advice on Care