Care home funding
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A Care Fees Annuity is generally designed to cover the income shortfall that arises when someone is self-funding their care costs. This handy Care Fees Annuity Calculator provides an indication of what a plan could cost, given that you probably have no idea what to expect. The price given here is just an estimate and is based on the data we hold of underwritten quotes previously obtained for our clients - actual quotes will vary.
Formal quotes would have to be medically underwritten following a telephone interview with your Care Provider and sometimes after also requesting a report from your GP.
If you are under the age of 80, then unfortunately this Calculator won’t work as the data varies too much and may give a misleading estimate but please do still contact us to discuss getting fully underwritten quotes (free of charge). You can still download our FREE 'Paying for care' guide and remember - our friendly advisers are always on hand to offer advice or answer any questions you have.
Please note that Eldercare are ‘whole of market’ as far as Care Fees Annuities are concerned and so have access to quotes from four Insurance Companies. The prices can vary considerably between Insurers, and so we would recommend that all four quotes are considered.
The Insurance Companies will not deal directly with members of the public and we would recommend that you make any final funding decisions based on bespoke, underwritten quotes and not the estimate that we are providing here.
There is no cost or obligation for instructing us to obtain firm quotes for you. Once we have your fully underwritten quotations, we will provide you with a full, written advice report (which will also be issued free of charge). An arrangement fee will be included within the cost of the Care Fees Annuity, payable of course only if you purchase a plan.
Once you have completed step one of the calculator, if you would like to discuss this in more detail, just complete step 2 and we will get back to you or of course just call us at your convenience. One of our team will then be able to explain the assumptions made for this estimate and explain the next steps to getting formal quotes.
