Whether you are considering how to pay for long term care which you know is, or will be, needed, or whether you want to protect yourself and your family against the possibility of paying substantial long term care fees in the future, you need help.
A few years ago, insurers saw the potential of the long term care insurance market. They saw an ageing population, people living longer, and increased wealth from property. They piled into the market. Within a few years, they mostly retreated; having been unable to convince people to buy their often over-complicated products, having been unable to design value for money products that could make a profit, and generally having a panic attack about the whole thing.
Now, there is only a small handful of products and providers. Some of these are niche products only.
So, to pay for long term care, you can insure, invest, use an annuity, sell your house, take out equity release or lifetime mortgages, take a loan, etc.
The buzz now is all about equity release and lifetime mortgages. Insurers like them as they know they can make money. Some depend heavily on a never-ending rising house price market, a stable economy and low inflation. None of us can see what they will be like in ten or twenty years time.
This area is a minefield as it depends so much on individual circumstances.
While most insurers in the equity release and lifetime mortgage markets will only sell via financial advisors, some will deal direct.
To be totally honest, we are not happy about people who may be old, frail and vulnerable being at the mercy of commission-hungry sales people. Rather than decide which products and insurers to include, we have taken off all company and product profiles on equity release and lifetime mortgages.
No one should buy insurance or investment for their old age, without professional advice.
While many intermediaries are capable of giving good advice, some have limited expertise in this exceedingly complex sector.
There are specialist advisors in this field, so listed in the Long Term Care Advisors section are some leading ones.
Get a quote
For online quotes and costs on UK long term care plans, use our Get A Quote section, or for enquiries about long term care plans, complete our enquiry form.