Care Plans

If it's getting harder to manage, there are a number of different ways to get the support you need.

The first step is to establish what your care needs are, the likely cost of meeting them, and whether you are eligible for NHS funded health care (free at the point of need) or fully funded social care following a local authority needs assessment and financial means test. So, your first step is to get an assessment of needs from your local council, as this will clarify the level of care needed.

You are unlikely to receive local authority funding for the cost of your care if you have combined assets worth over £23,250 (England & Northern Ireland), so it's likely that you will have to fund or part fund the care costs yourself, and the following information is based on the options around this.

The 9 ways 'self-funders' can pay for care:

1. A Deferred Payment Scheme
2. Rental income from residential property
3. Equity Released from residential property
4. Funds released through the sale of residential property
5. Liquid assets/cash/income
6. Investments/portfolios *
7. Pension funds
8. Long Term Care Insurance Products (LTCI)
9. Third party top-ups.

Please note: We cannot provide advice on some of the product / services shown and these will maybe referred to an authorised specialist, who can assist you in this area.

The best funding solution for any given individual may involve any one, or combination of the above list. Also, whatever means of funding care fees, provision should be made for both future inflation-linked fee increases as well as the potential for an increase in fees due to the need for a higher level of care as a condition worsens.

It can be difficult to navigate the complex social and health care system. For a clear pathway please contact us to request a tailored individual report.

* The value of an investment can go down as well as up, capital is at risk.