Care Annuity Costs

Cost of Immediate Long Term Care Annuities

Providers of Immediate Need Care Insurances Annuities differ both in terms of cover they offer and more importantly, premiums they ask for any given level of benefit.

Getting the right advice at the outset can help save you thousands of pounds as the following real life example aims to demonstrate:

Mr T	Annual Benefit £18,000
Age 76	Level		Increasing by 5%
	No Guarantee	50% Guarantee	No Guarantee	50% Guarantee
Company A	£113,862	£125,204	£136,625	£153,552
Company B	£167,286	£175,488	£219,070	£233,122
Company C	£154,978	N/A	£196,927	N/A

Source: Providers figures March 2008

Being Independent Long Term Care specialists you can be assured that we will work for you to obtain the very best quotes from all the immediate needs care annuity providers in the market.

Should you get Indicative quotes or actual medically underwritten quotes?

With the continuing development of the internet, it is possible to get what are called indicative quotes almost by return but these only take into account age, sex, height and weight and some small degree of medical information. They do not seek actual medical information from the person’s doctors. As such these quotes can be widely inaccurate.

More importantly, experience has demonstrated time and time again to us that the company, who offers the cheapest indicative quote can, once medical details are obtained, often turns out to offer the most expensive actual rates.

As a result we would always recommend getting actual underwritten quotes in the first instance. Whilst this will take longer it has the following advantages:

Knowing the exact annuity purchase price allows you to make an informed decision over whether this is a better option in your case than an investment.
Should an annuity be deemed best, providing you proceed during the time the quote is guaranteed for, the plan can be started and payments made to care providers almost immediately as the case has already been medically accepted.

To receive a fully underwritten exact quote, please click here and complete the form. We will call you back ASAP to discuss your requirements more fully and ask medical details of the person needing care.

Alternatively should you still insist on receiving indicative quotes only, please click here and supply us with all of the information requested. We will then obtain these quotes simply based on the information provided and send them to you, but without making any recommendation at this stage as to whether this is the best way to fund the care required.