Equity Release and Care Fees Annuities – late life advice
We have been dealing with long term care and equity release cases. The Equity Release case is for a couple that wish to buy a property and retain their existing property.
Equity Release has moved on a long way and includes lump sum repayments and payments of interest on an ongoing basis. It could be part of your long term planning; effectively you use your property to pay an “income” in later life or holidays and the like.
Paying for care fees is of course worrisome but one way of paying is a care fees annuity. It guarantees payment of a regular sum for life but capital is lost at death ( and so it is a mortality bet).
It could be part of mix and match approach of both a care fees annuity and income from investments.
Advisers need to have the correct qualifications to advise on either of the above. Unfortunately many of the websites that are high on google are marketing websites that then sell your details to advisers. I wonder if this offers the best outcome to clients?
Remember take advice before making any major decision on equity release and care fees annuities.