Immediate Care Fees Insurance
Immediate Care Cover is for people who need care now or are already in care
If you already receive care or are about to receive it, it is not too late.
Immediate Care Fees Insurance - Pay a Lump Sum
This type of long term care fees insurance plan is paid for by a single premium which is calculated on factors including the level of benefit your require i.e. the care fees payable and your life expectancy.
Once this sum has been paid and it is confirmed that you do require care, your care fees will start to be paid.
It is usually possible for you to inflation proof your care benefit so that it increases along with care fees. It is also usually possible for some form of capital protection to be built in to guarantee that a certain proportion of the original single premium will be paid back to your estate, should you die within a certain period.
Where you live is a lottery:
Nursing care contribution lottery
The State will meet the cost of registered nurse care and their specialist equipment up to certain limits, depending upon where you live. This is the registered nursing care contribution.
Depending where you live and the amount of nursing care you need will determine how much care fees assistance you receive from the State.
The State will meet some or all of your social care fees depending upon how much capital you have. The capital limits also vary depending upon where you live.