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Comments
LONG TERM CARE SPECIALISTS
Charlotte, overall your article was a balanced analysis of the current situation. Unfortunately, quoting the wrong figure for the means-testing limit rather detracted from this! As I an sure you ar aware, the CRAG (Charges for Residential Accommodation Guide) is revised annually in line with the Tax Year and new limits and allowances are introduced at that time. From 06/04/2010 individuals with accessible assets in excess of £23,250 have to pay all of the care and accommodation costs. Below that figure there is some help from the Local Authority until the figure drops to £14,250, when the full cost of care is paid for. Your article failed to mention that only IFAs holding the CII's CF8 Long Term Care Insurance qualification can advise on care fees planning, when using an annuity or other insurance-based product. It may have been helpful to draw your readers' attention to the Society of Later Life Advisers (SOLLA), which runs an accreditation scheme for Advisers specialising in the "grey" market. I am an accredited member of SOLLA and head up Towergate Financial's Elderly Client services. clive.barwell@towergate.co.uk
Posted by: Clive Barwell