Introducing our free later life care support service

In England and Wales, approximately 2.5% of people aged over 65 live in residential care homes. However, this number is likely to increase in the future due to the UK’s ageing population. On average, it costs around ￡800 a week for a place in a care home and ￡1,078 a week for a nursing home.

To help our customers navigate these challenges, our Care Concierge service provides expert, impartial guidance to help people understand, find, and fund care, alongside additional help with later-life housing options and legal matters.

Care Concierge is available to all Annuity, Lifetime Mortgage, Workplace Pension and Group Protection customers. Retail Protection customers with a policy starting 20 July 2023 onward can also access the service.

Here are some key highlights of the service:

• Available to policyholders and their immediate families for free for tailored support
• Access care experts via telephone between 9am-5pm for 1:1 support
• 24/7 digital platform with tools and resources
• Experts can help with a range of topics such as finding a suitable care home, understanding what funding options are available and helping with legal matters.

We encourage you to discuss this benefit with your clients as part of their financial planning conversations to help them work towards a brighter financial future for them and their loved ones.

Find out more on how this service can benefit your customers.

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?-References-

1 ??Office for National Statistics, Profile of the older population living in England and Wales in 2021 and changes since 2011

2?? Age UK, Paying for residential care

3 Office for National Statistics - Living longer - Office for National Statistics (ons.gov.uk)

4?? Office for National Statistics, Care homes and estimating the self-funding population, England - Office for National Statistics (ons.gov.uk)