The immediate care annuity (sometimes known as the Long Term Care Annuity) is a specialist contract designed to ensure that fees for residential care or care provided at home will be paid for the lifetime of the annuitant. There are no standard rates for these contracts, as each case is underwritten individually following receipt of relevant medical details.

The annuity may either be level or increasing, to allow for future rises in care costs, and payments are made direct to the registered care provider, thus ensuring that there is no tax liability for the annuitant.

Many people are thankful for the certainty and peace of mind that these contracts can provide, as, although the annuity purchase price is lost from the estate (subject to any guarantee period or capital protection having expired), the remainder of the estate is protected. Most importantly, the money to pay for the care will continue for life regardless of investment returns, interest rates, etc.

You can speak to an adviser with the necessary qualifications to give advice on this subject, and we can arrange to request quotations from all providers in this market with just one questionnaire.

Call  0845 123 5590  or  01325 487192