Just Retirement launches 'immediate needs' annuity for care funding

The Care Funding Plan provides a regular stream of income - usually paid directly to a care provider such as a residential home, rendering it tax-free - in return for a one-off payment. Under the Care Bill, which was introduced in May last year, individuals will soon be responsible for meeting their care costs up to a £72,000 cap if they can afford it, which would be means-tested. The Bill also set out the responsibilities on local authorities to provide information and support about the types of services available in their area, including how to access independent financial advice. ...