We understand that many people will be concerned that, should they die in the early stages of their Immediate Care Plan, they won’t get value for money from their investment.
If you die within the first six months of taking out an Immediate or Deferred Care Plan, a percentage of the capital you invest will be returned to your estate / beneficiaries. That percentage depends on how far into the six month period death occurs.
Any income paid will be deducted from the capital amount returned.
If you would like more comprehensive protection for your investment, you can choose one of our two capital protection options when you purchase an Immediate Care Plan.:
Capital Protection allows you to protect up to 75% of your initial investment for a given period of time and will pay out if you die within this period. You may protect any whole percentage from 1% - 75%
The amount protected decreases over time in line with the amount of income payments that are paid out. Once the total payments made equal the total amount protected, your estate / beneficiaries will not receive any benefits on your death.
Capital Protection Plus allows you to protect the initial investment, but will provide a capital return to your estate / beneficiaries upon your death, regardless of when that may be. This amount is guaranteed and does not decrease over time.
At the same time that you pay for your Immediate Care Plan, an additional single, one-off premium can buy you Capital Protection.The cost depends on the amount you want to protect and the protection option you choose. Capital Protection is not available with a Deferred Care Plan.