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The care fees advice journey

First and foremost, Eldercare is here to provide advice, support and guidance for self-funders because research suggests that about 85% of those having to meet care fees themselves either get no advice or they receive advice that does not include information about all their funding options. If you are unsure whether or not you will be classed as a self-funder, please get in touch and we can tell you.

We follow a tried and tested advice ‘journey’ to fully understand your individual situation, research care funding options and produce a comprehensive report to give you complete clarity. If you decide to accept our recommendations, we will then implement them and liaise with product and care providers on your behalf.

Initial telephone conversation

Your Care Journey starts with you making a simple phone call to our Freephone number 0800 082 1155. We will carry out a brief assessment of your situation and so it is helpful if you can have as much information to hand as possible about likely care costs, existing guaranteed income (typically State and Private Pensions) and existing assets such as the approximate value of any property, other savings and investments. If you don’t have this information at this stage, don’t worry.

You can ask us any questions that you have not found the answers to and we will make sure you are aware of any State benefits or financial assistance that you are entitled to. At this stage we may also signpost you to other relevant services such as our Property Solutions or Legal Advice.

ElderCare Group adviser providing care fees advice via telephone

Research of funding options

Funding options may include income generation from renting a property out, taking advantage of support from the Local Authority or NHS, investing capital or purchasing an immediate or deferred care fees annuity. If we are in agreement that a care fees annuity is likely to be viable, we will send you a quote request pack so that we can obtain fully underwritten costs for you. This will take into account medical history and current care needs and will therefore be a bespoke quotation.

The quotations that we get for you will tell us how much it will cost to buy a tax-free, lifetime income to meet your care costs, taking account of income you already have. They will include the extra options you may want such as inflation-proofing and capital protection. We will get quotations from all four Companies offering this type of product, avoiding the need to shop around.

Researching care fund options on the Eldercare website

Jargon-free report issued

As soon as we have the quotations, we will produce a jargon-free Care Fees Funding Report. This will outline your funding options and make a recommendation in respect of the solution that we think will best meet your needs. This is a discussion document and we can easily adjust the recommendations to suit any change in circumstance or feedback from you.

Regardless of what you do from here, this document acts as evidence that you considered all funding options and made a balanced, informed and considered decision. This is especially important if you are acting on behalf of someone else. If you require further advice or want to accept our recommendations, we can move on to the final stage of the journey.

A client reading an Eldercare Group care fees funding report

Implementation of solutions

This is where we will finalise and tweak our recommendations and organise the relevant paperwork for your financial solution to be put in place. We will liaise with both the product provider and the care provider on your behalf to ensure that everything is set up with minimum hassle. We will try and agree a ‘fee increase capping’ with your care provider and have been successful in obtaining this for the vast majority of our clients.

You will end the Care Journey with financial certainty and peace of mind in respect of your ongoing care costs. We will still be here, however, to help if there are any changes in circumstances or you need any further advice.

Peace of mind following care fees advice from Eldercare Group

It’s difficult making financial arrangements on somebody else's behalf but Eldercare were so patient throughout the process. I cannot fault our dealings with this Company, which resulted in the purchase of a Care Fees Annuity for our relative, giving us complete confidence and peace of mind that he can stay in the Residential Home he is so happy in, for the rest of his days.

Customer in Essex

Having contacted other ‘specialists’, I felt that Eldercare provided the clearest advice about Care Fees Annuities. The information was precise, balanced and I was not pushed to look at other financial products. I valued having a contact always available at the end of the phone with whom I could discuss my queries, which were dealt with in a compassionate and caring manner.

Mr J Morse

Having my mother suddenly need to be in a Care Home was a shock to the system and the cost implications left us very concerned what the long-term position was going to be. Thankfully I was put in touch with Eldercare who helped guide us through the options. Now that we have a financial plan (and therefore a permanent solution) in place, I can rest easily.

Mr Davies, Cambridgeshire

Having purchased a Care Fees Annuity, all I can say is that Eldercare were highly professional and efficient throughout the whole process. I would recommend any family with a loved one entering a Care Home to call them. I can assure you it will be worth it. Without their specialist advice, it is highly unlikely that the best funding solution will be found.

Customer in Norfolk

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Contact Eldercare Group for care home finding & care fees annuity advice
The Eldercare team are here to help!
Call: 01438 360082 or 0800 082 1155
Email: advice@eldercaregroup.co.uk
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Caring for someone yourself?
Caring for someone yourself?
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Achieving the Later Life Adviser Accreditation (LLAA) and becoming a member of the Society of Later Life Advisers (SOLLA) is an endorsement of our skills and experience of working with, and understanding the needs of, older people, their families and carers. It is widely recognised as the Gold Standard in later life financial advice.