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Long Term Care

Long Term Care

Long Term Care is a type of insurance designed to provide funds should the person need to go into care, often as a result of old age and its associated problems, although age is not a determining factor in needing long term care. Once a change of health occurs long term care insurance may not be available. Early onset (before age 65) Alzheimer's and Parkinson's disease are rare but do occur.

Long Term Care in a care home can be very expensive and can eat into your savings (including the equity in your property). If you are a home owner, with savings and a reasonable pension and you (or your partner) need care, it is likely that you will incur significant costs whilst not getting much, if any, help from the State until your savings have been reduced.

Your local authority will decide whether you are eligible for funding so they should be your first port of call - normally the social services department. However, if you have savings and assets of more than £23,250 (or £22,000 in Wales and £24,750 in Scotland) you will have to pay for your own care.

Many individuals may feel uncomfortable relying on their children or family members for support and find that long term care insurance could help cover out-of-pocket expenses. Without long term care insurance, the cost of providing these services may quickly deplete the savings of the individual and/or their family.

Long Term Care insurance can provide peace of mind to those going into care and protect the surviving partner from financial worries.

For details of our fees for our Long Term Care business please see our page How we are Paid

Please contact us for advice in choosing the most suitable Long term care options to suit your needs.