long term care Newton Abbot
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long term care Newton Abbot
Healthier lifestyles and advances in medicine mean that you can expect to live longer than your parents.

You must, however, balance this good news with the increased possibility that you will suffer from an age related illness or disability. As you grow older it may become more difficult for you to remain independent, not just because of a medical condition, but because you may be unable to carry out everyday tasks or activities of daily living (ADLs) without help.

Whilst more and more people will need care, less help is being provided by the State and Local Authorities. As the cost of care increases and the proportion of taxpayer's contribution decreases, only the very needy are likely to receive assistance. Although the State and Local Authorities may provide some benefits, they are likely to be subject to means testing.

Families are now smaller and there will be fewer younger relatives to rely on. This means that community, residential and nursing home care are now playing an increasingly important role.

The difference between a residential home and a nursing home is the level of medical cover provided. The medical cover in a residential home may be limited but a nursing home provides 24-hour nursing.

The Community Care Act, which came into force in 1993, passed the responsibility for long term care from the NHS to Local Authorities. The extent and amount of payment from Local Authorities is under review. Local authorities and the DWP use different levels of assets for means testing.

There are basically two types of long term care plans:

  • Protection Based
        The protection products can be either regular or single premium funded. The majority of regular premium products do not have any surrender value or death benefit. Single premium contracts may have a death benefit within a certain time period. This may be part of the main plan or may be covered by extra life cover with the contract.
  • Investment Based
        The investment-based contracts are either regular premium or single premium unit linked or 'whole-of-life' based contracts. They are dependent on unit linked investments funding the long term care protection plan. The value of the investments funding the plan can go up as well as down and is not guaranteed. The majority of long term care benefits are paid tax-free as they are paid directly to the care provider.

    Hedgelands Financial Services, Hedgelands, Abbotskerswell, Newton Abbot, TQ12 5PW
    Registered in England No. 4694508.  Registered Office 32 Monk Street, Abergavenny, Monmouthshire, NP7 5NW
    Hedgelands Financial Services Ltd is authorised and regulated by the Financial Conduct Authority, FCA Registration Number 624282. Sitemap
    Hedgelands Financial Services
    Newton Abbot
    Devon   TQ12 5PW



    01626 360654

    General Insurance:

    01626 438184

    Independent Financial Adviser
    long term care Newton Abbot
    long term care Newton Abbot long term care Newton Abbot