Lifetime Care Plan

We know making decisions around later life care can be a really difficult time for your clients and this often means they'll ask more of you than just financial advice. 

Beyond your caring conversations with your clients, we want to provide the right support for you so you can focus on your clients and help them make the best decisions for them and their family. 

Our Lifetime Care Plan, an immediate needs annuity, provides a guaranteed monthly payment for life to help pay for your clients’ care fees. As well as providing security and peace of mind to your clients and their families, it may reduce the risk of eroding remaining or family assets from ongoing care home costs, helping to preserve an inheritance for future generations.

In response to COVID-19, we've introduced a number of measures to support you and your clients.

Visit our COVID-19 statement page and detailed FAQs page for further information.

How does it work?

In exchange for a single premium, our Lifetime Care Plan pays a monthly payment to your client’s UK registered care provider for the rest of their life.

Payments can be made to a maximum of two UK registered care providers, if your client is receiving care from more than one provider.

Under current legislation no income tax should be due on payments to UK registered care providers, the rules governing tax may change in the future and affect your client’s income.

Your client can choose to receive the payments themselves, but these payments are subject to income tax.

The plan doesn't guarantee to cover the entire cost of care and your client's care costs may increase over time. Your client is responsible for funding any shortfall and may need to fund their additional care costs from other sources.