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Partnership Assurance : Deferred Care Plan

Company:	Partnership Assurance
Product category:	LTC Insurance
Sub-category:	LTC Insurance Deferred Care

Product profile

Description

If you need care straight away you may have the funds available to cover the cost initially. But if you're concerned about provisions in the long term, for a single, lump sum payment you can take out a care plan now and defer your income payments for up to five years. The advantage of this is that it reduces your premium without compromising the amount of income your care plan will eventually pay

For

Those who need indefinite carefrom a care provider now
Who can pay for own care for between 1 and 5 years
Age 60 or over
Wanting care in UK, any other EU country, Channel Islands, Isle of Man, USA,Canada, Australia or New Zealand

Cover

Pays out all monthly benefit to care provider
Care in a home or in your own home

Basis of cover

Payments direct to care provider are tax-free
Monthlyor four weekly payments
Benefits start at end of deferred period
Benefits continue until death or care no longer needed
Single premium
Minimum premium £5000
If care no longer needed, can convert to an annuity

Options

You choose the amount
Deferred period between one and five years
Escalator of benefits - various percentage increases available

Last updated: 20 January 2008