I don’t have any need for care at present but want to insure against the possibility that I may need care at some stage in the future. Can I buy an immediate needs annuity now?
No, they are not an insurance against the possibility of ever needing care, they can only be purchased once care is needed.
Although some insurance companies used to offer insurance against any possible future care, they became very expensive and were not very popular so are no longer available.
If I take out a care fees annuity for my father, will the income provided remain the same for the rest his life?
If I take out a care fees annuity, can the annuity provider ever ask for more premium?
Both my mother and father are moving into a care home together. Can they obtain a joint annuity?
I am worried that if I pay a single lump sum, should the provider go out of business I would lose everything. How safe are care fee annuities?
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