Have you ever wondered the reason of being asked by the people to
arrange for the care fees annuities? Do you want to know what exactly is
it and how important is it? Do you want to know what is it all about
and need some care fees advice? Well, if you answered ‘yes’ to any of these question being asked above, this is going to be interesting for you.
The care fees annuities is all about giving you the choice, ensuring the quality and limiting the cost of the nursing home fees.
Basically, provide this care fees annuity means that, the specialist
insurers provides you the guaranteed tax free income if you are ready
to pay the single premium outset.
This will ensure your fees will be
met for the lifetime.
The reason behind getting it tax free is that, the insurer pays the
fees directly to the nursing home in which your loved one is registered,
and not to you. So, it is not considered as your income in your tax
return. So, there are no issues even if you change your nursing home.
The insurer will pay it directly to your new nursing home.
The long term care annuities
are important. If you happen to keep your loved one into a nursing
home, paying yourself for the nursing homes; the accommodation as well
as services from your salary and savings as you go is one of the
toughest things to do in your life. There might be a situation where in
you need to sell your house and start staying in nursing home yourself
if you do not take the help. So, it is always advisable to go for the
long term care annuities. This is exactly why the people with power of
attorney keep asking you to arrange for it.
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