Provider British Friendly has launched an immediate needs annuity product, dubbed the Lifetime Care Plan, which aims to help advisers support clients with the financial and emotional challenges that come with funding long-term care.
The plan offers guaranteed monthly care payments for life, paid directly to UK-registered care providers to help meet the costs of long-term care. It is aimed at self-funding clients who are UK residents aged 60 and over with an immediate or imminent need for care. British Friendly has become the fifth provider to enter this market, with the product available only through authorised advisers holding an appropriate long-term care qualification, including CF8 or Cert LTCP. The provider said the payments help clients to secure certainty over care funding, following rising demand for l...
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