Take advice of an advisor before making any investment

Every person needs a proper planning for a better and stable future. This is not just for an individual’s personal safety but also for his or her family safety and security as well. To have a stable life all throughout, it is very important that an individual starts planning as early as possible. One can get these details from various long term care brochure in market.

Why does an early planning mean?

The simple logic on how any long term investment works is that when the period of investing is more than the amount invested can be less. You might be curious to know how fewer amounts invested can be helpful. Even if the amount would be less it would be for a long time and a regular one. So the overall time period in which you would be saving the smaller amounts you would be given interest and so the end returns will be more.

How can the returns be obtained?

The returns obtained can be decided by you while you choose the particular method or mode of saving. You will be able to get regular monthly or annual amounts as a regular pension or you can save guard it as annuity.
This would be decided solely by you when you decide the mode of payment. All these details can be obtained from various brochures available. If not you can even seek the advice of professional advisors.

Who are these advisors?

These advisors are usually a team of people who do in depth study of the current market various different plans and suggest people the best one that suits them. When you contact them they will discuss with you, your financial details, and the amount that you can save on regular basis. Other than this the most important aspect would be the purpose of your saving. A correct planning can be suggested only when the purpose why you wish to save is clear. This mean whether you want money in one go or part income on regular basis as annuity.

Some might want money to avail care facilities at home or to be able to pay for the nursing home during old age. Hence determining the actual reason of investment is very important. All this complex job of market study and returns is done by these advisors.

So just relax and contact an advisor today and secure your future.

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What is the meaning of long term care?

Care in itself has a lot of in depth meaning. It can be caring for or taking care of yourself, your family or your parents or any near and dear ones. We all know that nothing in this life time can be predicted as to when which tragedy might occur and owing to the constantly raising inflation it is becoming more and more difficult for everyone to cope with the costs occurring for health care.

In such a scenario if something happens to you that makes you to be dependent on others financially then it can easily become a burden and can hamper many facilities that your family, kids and parents can otherwise enjoy. This can mean that your kids might have to compromise their wish to higher education or your loved one might have to strive harder to earn to fulfil all the needs or it might also mean that the care facilities you or your near one can obtain will have to be compromised upon.

An ideal way to care in the old age or in times of long term medical issues is to either choose a proper nursing home or to hire a care taker at home who can take care of ailing at home. We all must be aware how much a good nursing home or paying for care at home might cost and being ready to be able to pay for this is a must.

So the wisest thing to do from right now is to start planning and saving so that neither your care requirements are comprised nor the lifestyle or luxuries of your family is entitled is compromised. With a comprehensive planning everything can be managed in a very well balanced way.

So hope it is clear as to what is long term care. This kind of comprehensive planning to get paid for care at home or to get regular pension for lifetime is what is called as planning for future or a long term plan.

If you are unsure how the planning and care fee security can be done then you can find many experts who can guide you on this. Based on your present financial conditions, your family and your health care requirements, this team of advisors will guide you. So, get guidance and keep your future safe.

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3 Compulsory Points to Ponder Upon while Nursing a Patient from Home

Mother and father are the two important pillars of one’s life. They spend their entire life to plan for the well-being of their child. When their son or daughter gets settled down in their respective lives, the parents think of retiring from their hectic life and staying at home. But as old age grips them, they fall prey to a variety of illnesses. Some stay active under the influence of medication while some take to the bed. When an elder of the family is bedridden due to various circumstances and need long term care, there are plenty of factors that have to be considered and planned in advance so as to avoid bitterness in relationship. Arranging patient care equipment and creating space for them, financial constraints, availing professional helpers to nurse the patient are the three basic points that one has to decide at the very nascent stage. Here are 3 vital points to ponder upon while nursing a patient from home:

• Infrastructure requirements

Nursing a patient at home is not easy as it looks. For instance, a critical care patient will need special anti-decubitus beds to avoid bed sores, IV’s, urine bags, oxygen masks, patient monitoring systems etc to sustain their life. They should be provided with the same care and facility that they will get at any hospital. Arranging all such equipment is a herculean task. Also, they might need a separate room where they can be rested peacefully. Hence, before deciding to nurse a patient at home, one has to plan for the infrastructure in advance.

• Cost factors

Nursing a patient from home involves plenty of cost factors. From regular and timely medicine procurement to nursing care fees, all monitory requirements should be considered. Not all types of illnesses can be covered under medical insurances. Hence one has to consult a care fees advisor as to how to plan their medical expenses for the entire span.

• Professional helpers

It is mandatory that one should take help of professionals like nurses who can come, visit and check on the patient who is ill at home. These professional helpers are pro in their work and hence one can be assured of the patient’s safety. Also, one has to plan the expenses that occur while arranging these professional helpers in advance so that they do not get into a huge shock.

A patient recovers better in a homely environment full of positive energy. If the most primordial features like cost, assistance and space are managed efficiently, patients can forget their illness and will spring back to life within no time.

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Five Factors to Check before Subscribing for a Care Fee Annuity Programme

Are you wondering to know about care fee annuity? Well, if yes then you are in the right place. Care fee annuity is a special type of annuity funds that are provided by insurers as a monthly care fee income. A one-time premium sum needs to be insured with the service provider and then for the rest of your life your medical expenses are capped. This is a non-taxable income. Care fee annuity gives the elders an upper hand over their lives as they need not be dependent on their children or anybody for their health care.

When elderly people opt for such policies, they use all their savings to pay the premium amount. If the insurance organization rejects their plea of care home annuity or withholds the money, the elderly people lose money as well as health. Hence, first and foremost you should check the credibility of the insurance company. Moreover, when one narrows down their care fee annuity plans, they must consult with proper care fee specialists or advisories who will be able to call black as black and white as white. The below mentioned five things should be strictly checked before subscribing for a care fee annuity programme.

• Who are eligible for the annuity?

Most of the annuity plans pays the prime insurer. In case if the insurer is terminally ill, the payout will be transferred to the name of the care taker. This part of nomination of funds should be clearly drafted in the annuity policy.

• What is the initial premium amount?

The one time payout premium cost is another important parameter. It should neither be too high that it swallows the entire savings nor be too low that one gets a meagre amount as the annuity monthly income.

• What is the coverage percentage?

Many elders live under the impression that as they have insured for care fee annuity, they can get complete medical aid. This is untrue. Based on the coverage percentage, these policies roll out fixed sum monthly.

• Are they tax-free?

Generally care fee annuities are tax free income. If there is any special clause added in the policy related to taxation, the insured must have prior information related to the same.

• What are the payout options?

There are different types of payment options associated with care fee annuities like escalation and capital protection. One must choose the correct mode of payment so that it helps them the most.

Care fee annuity is a brilliant concept where the elders secure their savings to help them in their most vulnerable days. If one can stay away from malicious insurers their life is secured until death. So, it is wise to consult with the care fee advice specialists before subscribing for any plan.

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Your Choices of Long Term Care Funding!

You might have the amount of money to invest in long term care but there are other reasons why you would want the long term care. One of the reasons is because you do not eligible for local authority funding. Often you would want your care fees to be limited so that it does not eat up most of your capital. Also you want the best outcome and care, which is why you would want to pay a little more for a better result.

The ways in which you can fund your long term care are mentioned below:

• Immediate care fee payment plan – If you want to get care right away, all you need to do is invest in the huge lump sum in return for a guaranteed income for a lifetime. It might sound interesting and easy, but take care of the pros and cons before deciding on the end result.

• Investments – If you are running short of money and want to avail the benefits of long term care, use your investments bonds to take care of your care needs. The major downfall of choosing this option is that it holds your investment for a long period of time and might not come across up to the cost of your care.

• Downsizing – A major and a common way to pay for care fees is selling off bigger houses for a small one. Elderly people often give up on the pleasures of life such as the luxury of staying in a big house. This can be a way in which you can pay for your care needs.

• Equity discharge –A part of your house income helps you avail the long term care while you stay in the house. The money has to be reimbursed later on when the house is sold. Do not go for this option unless it is the last one left in your hand.

• Deferred payment – A way in which you can save your house from selling is by choosing the deferred payment and coming into an agreement. The local authority would deduct the amount of fees once the house is sold.

Funding you long term care can be possible if you rent your home and earn money in return or if you have cash in shares and savings. Certain insurance policies cover such costs. So look into that!

If you want to go for long term care annuities, be clear of what you are about to do. Taking this decision is a huge step and you would want to discuss and seek advice for a better option to choose.

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Immediate Annuity Care Fee Payment Plans – The Desired Care Fee Plan for You!

If you are looking for an answer to resolve your payment issues of care home, an immediate plan or annuity is what you require. Immediate annuity can be termed as a type of contract or an insurance policy that helps in long term care.

Instead of a regular income provided to the family in exchange of a huge amount of investment, it assures the family with an income. This income helps in funding their long term care and fulfils all their requirements. This can be termed as immediate annuity or immediate fee payment plan.

The immediate fee payment plan balances the cost of your care fees according to your income. You would need to decide on the amount you want to invest and also for how long. One major benefit of the immediate payment care plan is that it is income tax free. You might wonder how to choose your plan, but there are few basic points based on which you can decide your plan – your income level, state of health, age, life expectancy and also your annuity rates.

Why You Need Immediate Care Fee Payment Plans?

• If you are under care at home or in a care home, you would want to avail this plan

• You think you have the required amount of money to be invested for a better future

• You want to be rest assured of your income for lifetime that will help you gather all the care you need

• You want to account your care cost separately from your capital cost to leave them for your next generations to lead a happy life

Why Immediate Fee Payment Plan is Just Not for You?

• You might find it unnecessary to pay for care immediately.

• You might not need the care forever and maybe it is temporary.

• You may not want to invest money in care fee and would like to receive it back in the future.

• You might opt for NHS Care Funding and there might be a possibility of you getting it.

The Risks Involved in the Immediate Fee Payment Plans

Once you have decided and paid for the immediate fee payment care plan, there is no chance at all of getting your money back or cancelling it. Often people stop requiring care but once the payment is made, you cannot go back. Reclaiming the wholesome money if you die early is not possible unless you made a certain kind of a provision.

Though immediate plan provides several benefits, you need to be sure of the amount you are investing so that it doesn’t incur a loss if there is a chance your short term living. To be sure of what you are doing, get care fees advice from some consultancy. Think and decide wisely before coming to a conclusion!

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How To Stop The House From Being Utilized Towards Paying Nursing Home Charges After Death Of First Spouse?

There are many in the UK, who are said to have lost their home towards making payment for Nursing Home Fees. The family home that was regarded to be the children’s legacy gets swallowed up just to meet nursing home charges. The worst thing could be when the surviving parent is sick and family distressed, which such an incident takes place. Hence, how could it be stopped?

Helping to stop house from being used for making payments towards nursing home charges

The process is quite simple, however, not many are aware about it. Both parents are required to write a Testament and Last Will as well as a Trust. There is required just 10 pounds for setting up a Trust, also called Family Trusts.

How this system works?

• The house is to be within Tenancy in Common, with most not being so. They could be bought in Joint Tenancy, which is wrong. The deeds are to be examined or the solicitor is to examine the deeds for ensuring that family home is within Tenancy in Common. It means, every spouse would own half of property.

• Then a Will is to be made by both parents. The Will’s main components are to be the Trust, where the valuables, property, shares, stocks and money is to be placed. The Trust’s main beneficiary would be surviving spouse, while both parents could do what they desire to with the estate when alive, since the Trust comes into effect only after first spouse dies.

• A Trust is to be made for each, a process called Equalising the estate. How large the estate is, does not matter at all.

Their half house, with the death of first spouse, goes into Trust and not towards surviving spouse. If that spouse is required to go to Nursing Home later, then half house gets assessed. A half house according to Inland Revenue is regarded valueless, when assessment is concerned. This way, on paper, surviving spouse, going into Nursing Home, can do so, without the required funds, and also avoid needing to sell house for paying fees of Nursing Home and also reduce potential Inheritance Tax.

It is to be understood that the system is just good, when a spouse enters the care, following first spouse’ death and it is also approved by Revenue.

Knowing this can help the individual to avoid having to sell the house and to go into a care without having to worry about funds.

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