One way to cover the cost of care is a care fees annuity plan.
Care fees annuities can help clients meet the expenses associated with going into care - but not every pension provider or life assurer offers such products.
This guide looks at how immediate needs and care fees annuities work; explores why there seems to be so little innovation and so few providers of such annuities; what government intervention has achieved; and the various opportunities and challenges faced by advisers with clients needing long-term care planning.
Contributors of content to the guide are: Steve Lowe, group communications director at Just Retirement; Joanna Fowler, head of product for Saga Personal Finance; Age UK; Brian Fisher, long-term care marketing manager at Aviva; Janet Davies, co-founder of Symponia; the Money Advice Service; and the Association of British Insurers.