An Immediate Care Plan could be suitable for you if:
The Immediate Care Plan is an annuity which will pay a regular, tax-free* income to your registered care provider, starting immediately and continuing for the rest of your life. Payments are guaranteed and do not depend on investment performance.
If, for whatever reason, you leave care at any point the income will be paid directly to you, rather than to your care provider, but it would lose its tax-free status. However, it can be converted back to being tax-free should you require care again in the future.
Care fees can increase over time due to inflation. If you want help to protect your investment against the effects of inflation you can consider:
If you die in the first six months of taking out a 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 wish to protect your investment for longer, you should consider Capital Protection.