As we get older, it becomes more likely that we may need day-to-day help with activities such as washing and dressing, or help with household activities such as cleaning and cooking. This type of support, along with some types of medical care, is what is called \u2018long-term care\u2019.<\/p>\n
Providing financial support<\/strong> You can receive long-term care in your own home or in residential or nursing homes.\u00a0Regardless of where you receive care, paying for care in old age is a growing issue.<\/p>\n Level of state support<\/strong> Types of long-term care plans<\/strong> Other options<\/strong><\/p>\n Enhanced annuities \u2013<\/strong>\u00a0you can use your pension\u00a0to buy an enhanced annuity (also known as an \u2018impaired life annuity\u2019) if you have a health problem, a long-term illness, if you are overweight, or if you smoke. Annuity providers\u00a0use full medical underwriting to get a more accurate individual price. People with medical conditions including Parkinson\u2019s disease and\u00a0multiple sclerosis, or those who have had a major organ transplant, are likely to be eligible for an enhanced annuity. Savings and investments \u2013 give you <\/strong> If you are already retired, or nearing retirement, it makes good sense to take professional financial advice to ensure that your affairs are in order \u2013 for example, arranging your Will or a power of attorney.\u00a0It also makes sense to ensure your savings, investments and other assets are in order in case you or your spouse or registered civil partner may need long-term care in the future.<\/p>\n When planning for your future care needs, think about:\u00a0<\/strong> Making decisions at what can be an emotional time<\/strong> Financial support you\u00a0need if you have to pay for care assistance\u00a0for yourself or a loved one With the UK\u2019s population ageing, more people will be living with long-term care needs. Oscar Wilde once said: \u2018The tragedy of old age is not that one is old, but that one is young.\u2019 But the good news of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/posts\/2413"}],"collection":[{"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/comments?post=2413"}],"version-history":[{"count":0,"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/posts\/2413\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/media?parent=2413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/categories?post=2413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.clarksonhall.co.uk\/news\/index.php\/wp-json\/wp\/v2\/tags?post=2413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nLong-term care insurance provides the financial support you\u00a0need if you have to pay for care assistance\u00a0for yourself or a loved one. Long-term care insurance can\u00a0cover the cost of assistance for those who\u00a0need help to perform the basic activities of daily life such as getting out of bed, dressing, washing and\u00a0going to the toilet.<\/p>\n
\nGovernment state benefits can provide some help, but may not be enough or may not pay for the full cost of long-term care. The level of state support you receive can be different depending on whether you live in England, Wales, Scotland or Northern Ireland.<\/p>\n
\nImmediate needs annuities \u2013<\/strong> pay a guaranteed income for life to help cover the cost of care fees in exchange for a one-off lump sum payment, if you have care needs now.
\nPre-funded care plans \u2013<\/strong> gave you the option of insuring your future care needs before they develop\u00a0(these plans\u00a0are no longer available to purchase)<\/p>\n
\nEquity release plans \u2013<\/strong> give you the ability to get a cash lump sum as a loan secured on your home \u2013 these can be used if you are looking to fund a care plan now or in the near future.<\/p>\n
\nthe opportunity to plan ahead and ensure your savings and assets are in place for your care needs.<\/p>\n
\nWho (in your family)\u00a0most\u00a0needs long-term care and for\u00a0how long
\nWhether you need a care plan now
\nWhether you should be planning ahead for yourself or a loved one
\nWhether you have the money to pay for long-term care
\nHow long you might need to pay for a care plan
\nWhether home care or a nursing home is required
\nWhat kinds of things would be required of the help \u2013 for example, help with dressing, using the toilet, feeding or\u00a0mobility
\nWhether you find that your home requires additional features\u00a0such as a stair lift, an opening and closing bath or a bath chair, and\/or home help<\/p>\n
\nLife expectancy has increased, which in turn puts a greater strain on the standard of care that state support can provide. Many people don\u2019t consider the issue of care at all, and it falls to their families to make long-term decisions (and often very expensive ones) at what can be an emotional time. However, when an individual reaches the stage that they require long-term care, this does not necessarily mean that their life expectancy becomes reduced. The required care could last for 15 years or more, and therefore incurs considerable costs.<\/p>\n","protected":false},"excerpt":{"rendered":"