Do you need advice on how to pay for care?

Bev Stoves & Sarah McCarthy, Independent Financial Advisers, Investment Sense

Contact our team of  specialists today:

0115 933 8433

info@investmentsense.co.uk

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As medical advances and healthier lifestyles lead to ever increasing life expectancy, more of us will find ourselves needing some form of care in later life.

Meeting the cost of this care can be extremely expensive. The average cost of residential care in the UK is estimated at £27,612 per year, rising to over £38,000 per year if nursing care is required, which costs an average of £15 per hour.

Excluding those people who are severely ill, the average time spent in care is four years. In fact, 1 in 8 people spend more than seven years in care.

It is therefore clear, that any prolonged period in care, for people who are self-funding, will get extremely expensive, with bills running into the hundreds of thousands of pounds not uncommon.

For some people, the State will help meet the cost of care and the Government is introducing a ‘Care Cap’ from April 2016, but many people will still end up paying significant sums from their own resources.

Without doubt, this time of life can be financially stressful for many people:

  • Will there be enough money to pay for the type of care needed?
  • Will the family home have to be sold?
  • How will it reduce the amount of money you can leave to your loved ones?

These are just some of the questions we know people facing up to the thought of paying for care, will be worried about.

Whether you have not yet retired, have recently finished work, have been a pensioner for some time, or have parents who are facing the prospect of needing care, this guide will give you all the information you need, to make the right choices for you and your family.

What can you find in this section of our website?

Click on the links below to learn more about paying for care in old age:

Types of care and costs

Will you get help with your care fees?

How will the ‘Care Cap’ affect you?

How to pay for your care, what are your options?

Other questions to consider

Case study: Does your house have to be sold?

Case study: Does your house have to be sold?

7 long term care myths and the reality

We hope you found our guide to paying for long term care helpful, are you concerned about paying for care?

We are here to help

Our team of Independent Financial Advisers are experienced in developing strategies for clients the length and breadth of the UK to help them meet the cost of paying for care.

If you would like advice on your options call one of our IFAs today on 0115 933 8433, alternatively enquire online or email info@investmentsense.co.uk