Immediate Care Plan
What is an Immediate Care Plan?
Immediate Care Plans are a type of annuity, also known as Immediate Needs Plans or a Care Fees Annuity, which pay out a guaranteed income for life to help cover the cost of care fees in exchange for a one-off lump sum payment.
Payments can be set to pay a level benefit, or can be index linked to raise over time. You can use whatever money or assets you may have left over after taking out the immediate care plan for any purpose – for example, if you wanted to leave it to your family.
Immediate needs annuities offer
- The ability to have care in your own home, or in a residential or nursing home
- A payout until you no longer require care, which is usually when you die
- The option to have your payment given directly to a care home, carer, or to you as the policyholder
You can also buy a deferred care plan for long term care. Instead of paying out benefits immediately, this pays out after a few months or years.
Find out more in our Immediate Care Plan Guide
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