Long Term Care Annuity

Long Term Care annuity bespoke service

When you contact us to ask about an annuity for long term care, we will appoint you your own dedicated independent financial adviser. Your adviser will discuss with you all your annuity requirements.

All the advice we provide is tailored to your needs. We will work in partnership with you to find the very best solution to fit you.

The initial consultation with your adviser will be free of charge and obligation.

Call your FT award winning independent financial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you.

Our Fee Guarantee: You won’t pay any fees unless we can help you.

How do we find the best long term care annuity for you?

As soon as your adviser knows what you are looking for and has a clear picture of your circumstances, they will research the entire long term care marketplace. Their research will find the very best annuity there is for you.

We are a totally independent firm, meaning your adviser has access to the entire marketplace. This even includes some specialist long term care annuity providers not normally available to the public.

When you are happy with the annuity your adviser has found, your adviser will begin the application process. They will assist you with completing all forms that need to be completed and will answer any questions you may have.

Should you need advice or assistance with any other aspect of your finances, such as your pension, any investments you hold, or perhaps an equity release scheme, Worldwide’s team of experienced and expert advisers will be on hand to help you.

How does a long term care annuity work?

An annuity for long term care (sometimes referred to as an immediate needs annuity) works a little bit like a standard annuity – you pay a single premium contribution to an insurance company who then pay you an income.

With this kind of annuity, the income you receive is designed to help cover the cost of long term care, either in a residential home or your own home. If the income from the annuity is paid directly to the care provider it is tax free.

How much will my long term care annuity cost?

The cost of your annuity will depend on several factors. These are:

• Your age.

• Your health.

• Whether you are male or female.

• How much income you need it to provide to help cover your long term care fees.

Your adviser will be able to give you a clear idea of how much your annuity will cost.

What are the advantages and disadvantages of this kind of annuity?

The main advantages are as follows:

• It provides the security of a guaranteed income, so you can be sure that your, or your loved one’s care fees will be paid.

• You will not face the possibility of savings or other assets being used up to pay for care, so any remaining capital is protected.

• If paid direct to the care provider, the income from the annuity is tax free.

The main disadvantages are:

• If the person receiving the income from the annuity dies soon after purchasing it, the original capital will be lost, unless protection against this has been taken out, at extra cost. You may also not have enough capital to purchase an annuity which will cover your income requirements.

• The income the long term care annuity provides will be counted as income during any means test for benefits (other than for Attendance Allowance and any other benefit which is solely for a disability). This may mean you do not qualify for certain benefits.

• Once an annuity has been taken out, the arrangements cannot be changed. Although you do have the option of purchasing further annuities if you should need to, to cover long term care costs.

Your independent financial adviser will listen to you, assess your circumstances and requirements and help you decide if this kind of annuity is the best financial solution for you. If it is not, they will advise you about any other options that may be suitable.

Remember: You won’t pay any fees unless we can help you.

Call your FT award winning independent financial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you.