Pensions  

Just Retirement offers care funding service

Just Retirement’s group external affairs and customer insight director said: “With an ageing population and care funding reforms set to come into force in England in a couple of years, we expect a growing number of families to become aware of their financial obligation to meet their own care costs and to turn to professional intermediaries for guidance and advice.”

The group has added care funding to its free-to-use suitability report service on Justadviser.com, its online hub for intermediaries whose clients are approaching or in retirement. It follows the launch of its care funding plan earlier this year.

The plan consists of an immediate needs annuity designed to meet the needs of people in later life facing long-term care costs.

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Available free of charge to intermediaries registered with Justadviser.com, the care funding option covers all three providers active in the care funding sector and the full range of financial planning scenarios.

Mr Lowe said: “Adding care funding to our suitability support service was the natural next step, because it has already proved itself a success at providing practical tools to help intermediaries who are dealing face to face with clients.”

Adviser view

Trystan Lewis, director of Chester-based Griffin Wealth Management, said: “The market for care funding is limited in the amount of products available, but it is great that Just Retirement has entered the market as ultimately it will lead to increased competition and more choice.”