Sometimes, individuals may reach a stage where their health or age mean that they decide to be cared for in a Residential Nursing Home. Although the state can provide in some circumstances, many people elect to choose their own private care home provider and meet the cost themselves. This can be an expensive option and it is vital that you receive independent advice to ensure that your financial needs are met.
Case Study
Mrs J contacted Pegasus on behalf of her father who had just moved into a local residential nursing home needing 24 hour care. Although Mrs J’s father had substantial retirement income it was not enough to meet the cost of the nursing home fees.
He had recently sold his property in order to help pay for the fees and he wanted advice on how best to invest the sale proceeds of the property to ensure his fees where met both now and in the future. Pegasus were able to arrange a Long Term Care Annuity which guaranteed that his nursing home fees would be met in full.
This guaranteed that his nursing home fees would be met for the rest of his lifetime whilst also securing a proportion of his capital to be passed on to his beneficiaries.
