A Care Cash Plan pays out a cash sum and/or an income for a set period. This is against the future possibility of needing care, not if you need care now. It does not pay for care home or other fees directly, or to you.
Income lasts for a set period only, not until you die.
There is no link between the amount and the costs of care
Elderly care cover pays out on specified physical and mental illnesses that are more likely in older age, which vary by insurer, but can include:
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Alzheimer's Disease
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Motor neurone disease
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Parkinson's Disease
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Pre-senile dementia
The plan also covers "failures of activities from daily living", from any injury or disease which means you can no longer perform three out of five activities of daily living:
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Continence
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Dressing
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Feeding
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Mobility
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Using the toilet
Some policies say 2 out of 5,some 3 out of 5, some one out of 5. Policies vary in what they regard as activities of daily living.
