Long Term Care

Long Term Care is something that we all hope we avoid, but there is a good chance that someone we know will be in need of support at some stage in their life. There are essentially two types of Long Term Care:

Residential Long Term Care, which may arise purely because the individual has nobody close and it may be that living in a Care Home is better mentally for them. It may also arise where the individual is mentally sound, but is unable to look after themselves and needs assistance, with some Activities of Daily Living.

Nursing Long Term Care - Residential Care but with fully qualified nurses for those individuals who need this specialised care.

When you are considering Long Term Care, you should consider the issue of Continuing Healthcare, where funding could be provided by the NHS. Not everyone will be eligible, but below is a link to provide you with more information around this important issue. Be aware though that the assessment process can be lengthy unless the condition of your relative is rapidly deteriorating

http://www.nhs.uk/chq/Pages/eligibility-assessment-for-nhs-continuing-healthcare.aspx/

If Continuing Healthcare through the NHS is not an option Long Term Care can be expensive and below we have given a couple of ideas to think about, and also provide links to other organisations that may be of use.

Immediate Needs Annuities

An option for the payment of Long Term Care Fees, where the monthly cost can be covered in whole or in part, and an option to be considered for each individual. It may not be the right solution for everyone, but may enable treasured family assets to be retained and passed down through the generations.

Investment Bonds

Onshore and Offshore, investments to suit the individual circumstances of our clients as appropriate. It may be that these can be used to help with generating income for Long Term Care fees.

Links

http://www.moneyadviceservice.org.uk/en/articles/long-term-care-services-at-a-glance/

http://www.alzheimers.org.uk