Care Annuity provides expert advice and tailored annuity solutions for individuals seeking to cover the cost of long-term care in the UK. 

We help clients secure guaranteed, tax-efficient income to fund care fees for life through specialist products known as care annuities or immediate needs annuities.

As care costs can quickly deplete savings, we ensure you receive reliable income protection and financial peace of mind.

Book a free consultation today—Get guaranteed income for care fees.

How Does a Care Annuity Work?

A care annuity converts a lump sum into regular payments made directly to your care provider. 

As the annuity is designed to fund care, the insurer agrees to pay a fixed income for the rest of the individual’s life, regardless of how long care is needed. 

Payments begin immediately or after a short deferment period, depending on the policy terms.

How Much Does a Care Annuity Cost in Downham Market?

The cost of care annuities is between £50,000 and £250,000. 

The exact cost depends on the level of income needed, your age, health, and life expectancy. 

Since every case is unique, we offer personalised quotes based on your care needs and financial situation.

Who is Eligible for a Care Annuity?

As the product is medically underwritten, applicants will need to provide details of their health, care requirements, and GP or specialist reports to receive an accurate quotation.

What are the Risks or Limitations of Care Annuity?

Since the annuity ends upon death (unless additional protection is purchased), there may be no return of funds if the individual passes away shortly after the policy begins. 

Some insurers offer capital protection for an extra fee.

What Are the Benefits of a Care Annuity?

A care annuity in Downham Market provides guaranteed funding for care fees, safeguarding your finances and ensuring long-term peace of mind.

Key benefits include:

• Guaranteed Income – Covers care costs for life, regardless of how long care is needed.
• Tax-Free Payments – Income is usually tax free when paid directly to a registered care provider.
• Asset Protection – Prevents other savings and assets from being depleted by care.
• Tailored Quotes – Calculated based on your age, health, and care needs for best value.
• No Ongoing Costs – One-off lump sum with no future premiums or additional payments.
• Immediate Activation – Payments begin as soon as care is required, and the annuity is in place.
• Flexible Options – Can include capital protection or inflation-linked income for added security.
• Peace of Mind – Removes uncertainty and financial pressure from care planning.
• Estate Planning Support – Helps structure finances to preserve inheritance where possible.
• Predictable Costs – Fixes care funding in advance, avoiding the impact of rising care fees.

Who Can Get a Care Annuity?

Anyone aged 60 or over who needs, or is about to need, long-term care can apply. 

It is most suitable for individuals entering residential or nursing care. 

As the annuity is medically underwritten, people with health issues may receive higher income rates.

Is the Income from a Care Annuity Tax-Free?

Care annuity payments are tax free when paid directly to a registered care provider. 

If paid to you instead, standard income tax applies. 

As most policies pay the provider directly, tax efficiency is maximised.

Is There a Refund Available In Case of Early Death?

Some annuities include capital protection, which refunds part of the lump sum if you die early. 

This is optional and must be added at the time of purchase. 

As this feature provides peace of mind for your family, many clients choose it for reassurance.

How Long Does It Take to Set Up a Care Annuity?

Most care annuities are arranged within 2 to 4 weeks. 

This allows time for medical assessment, quotes, and application processing. 

Since care funding is often urgent, we prioritise a fast and efficient setup process.

Do We Provide Independent Advice About Care Annuity?

Care Annuity offers fully independent advice and compares products across the market. 

We recommend the best options for your circumstances. 

As independence ensures unbiased guidance, you can trust our advice is tailored to your needs.

Can a Care Annuity Be Used for Home Care?

A care annuity can fund both residential care and care at home. 

Payments are made directly to the registered care provider, regardless of care setting. 

Since flexibility is important, many clients use care annuities to support home-based care.

What Happens To My Annuity If My Care Needs Change?

The income from a care annuity continues regardless of changes in care provider or care level. 

If you move to a different care home or switch to home care, payments can be redirected to the new provider. 

As care needs often evolve, the annuity adapts to ensure continued support.

Is Medical Information Required for Care Annuity?

A medical assessment is needed to determine your health status. 

This allows for a tailored quote and may result in a higher income if your health is impaired. 

As quotes are medically underwritten, accurate information ensures you receive the best possible rate.

Can I Cancel a Care Annuity After Purchase?

Care annuities are not cancelable or refundable after purchase unless you select capital protection. 

As this is a lifelong product, it’s essential to consider all options before committing. 

We guide you carefully through every step before finalising any agreement.

Is Capital Protection Worth Considering With Care Annuity?

Capital protection refunds part of the lump sum if you pass away early and can offer reassurance for your estate. 

It slightly reduces the income amount but ensures some funds return to your family. 

Since it adds flexibility, many clients choose it for peace of mind.

Is Joint Care Annuity Available for Couples?

Care annuities are individual.

Couples can each take out separate policies. 

A joint solution may be considered based on specific needs. 

As every situation is different, we advise on the best structure for your care funding.

What is the Difference Between an Immediate and Deferred Care Annuity?

As a deferred annuity has a waiting period, it usually costs less, making it suitable for individuals who can self-fund for a time before needing full support.

Why Choose Us for Care Annuity in Downham Market?

We provide expert guidance on care annuities, helping you secure a guaranteed income to cover long-term care costs. 

Our advice is tailored to your needs, ensuring you get the best value from your investment while protecting your financial future.

With in-depth knowledge of the care funding landscape, we compare leading providers and explain all options clearly, helping you make informed decisions with confidence.

How Do I Get a Quote for Care Annuity?

Get in touch with Care Annuity to arrange a free consultation and a no-obligation quote.

We assess your care needs and provide fixed, free quotes based on your circumstances. 

As early planning ensures financial stability, we guide you through every step with clear, professional advice.

Secure lifelong care funding — request your personalised care annuity quote today in Downham Market.

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