Care Funding Advice

Saga’s team of care funding advisers can help guide you through accessing all the options available to you, including:

A Care Fee Annuity

For a single lump-sum payment a Care Fee Annuity can pay an agreed amount towards your care fees each month. It can offer peace of mind as it helps to limit the amount of capital that you need to set aside to fund your care – helping to protect your remaining capital. 

You can also plan for rises in care fees by opting for an index-linked Care Fee Annuity, which can help to keep up with increases in care fees. However it does increase the cost of the annuity.

Care Fee Annuities do differ considerably in cost from one annuity provider to another, as they consider factors such as age and state of health plus the amount of income you need to generate. It's best to research the whole market, which a specialist adviser can do. They will discuss your requirements and any alternatives there may be, then research the options and present the advantages and disadvantages of these, so that you can make an informed decision.

Investing For Income

An advantage of investing for income is that you can retain ownership of all of your capital and pay your care fees from your existing assets. 

If you choose to invest your capital to generate an income to pay for care, your investment portfolio needs careful structuring whilst taking into account your attitude to risk and your aims for the future. A specialist adviser can help plan your portfolio to give you the best chance of realising the returns needed to generate the level of income that you require, without exposing the investment to undue volatility or risk.

Other options

Such as an interest free loan from your Local Authority, letting a property and equity release. You may also have sufficient cash savings to simply pay for care, or you can ask for support from your family and friends.

To be put in touch with a care funding adviser regarding your own situation, call our customer service team on 0800 096 8703.