There are three main ways to partially or wholly protect you against the costs of long term care.
On some products, you only get money if you qualify as needing care.
On some products, you get money anyway, but there is some help in arranging care if needed.
On investment and Equity Release products, you choose whether or not to use the proceeds on care.
The products do not always fit neatly into one or other category. Increasingly, we see products, which offer a range of options now, and in the future.
Long term care plans fall into the following main categories. Select one of the product types for an explanation of how these plans work and what they offer.
As the latter two categories of plan are financial/ investment products, rather than health insurances, we have only profiled a few insurers and specialists who offer these products, often only via financial advisors. We have not profiled the scores of lifetime mortgage and home reversion plans that are offered by banks, building societies, retailers and a myriad of investment based businesses.