- Care fees planning
- Corporate financial planning
- Funding your retirement
- Inheritance tax mitigation
- Investment management
- Support for accountants
- Support for legal professionals
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We can help you plan and give you reassurance when the challenges increase.
Immediate Care Annuities
With an Immediate Care Annuity, an individual pays a single lump sum premium and in return the Care Home receives an income for the rest of the individual’s life. Since the return is dependent upon life expectancy, those in the poorest health pay the lowest premium. We advise that the premium should be regarded as being spent, rather than invested – ie: there is rarely any monies returned when the individual dies (unless it is purchased as an additional benefit).
On the up side, if an individual lives for many years, ICAs provide excellent value for money and peace of mind. In addition, as the monies are paid directly to the Care Home rather than the individual, no tax is deducted from the income and therefore they are more efficient than a traditional annuity. There are two companies providing ICA quotes, both of which base their response on medical evidence. An examination of the individual is not required as enquiries are made directly with the Doctors involved and a questionnaire is always completed and supplied.
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The value of investments and income from them may go down. You may not get back the original amount invested.