How does the Saga Care Funding Advice Service work?
There are lots of things to think about when you’re considering care for yourself or someone else. What type of care would be best? How much does it cost? Who pays for the care? What if you have to pay for it yourself? Where do you start? For your own peace of mind, it’s important to plan ahead and getting expert advice is a vital first step.
The Saga Care Funding Advice Service, provided by HUB Financial Solutions Limited, can provide that help, offering a thorough service from start to finish. Here’s how it works…
Step 1 – Making an appointment with an adviser
To find out more about care and how to pay for it, first call the Saga Care Funding Advice Service on 0800 096 8703. A member of the team will answer your initial questions and arrange a telephone appointment with a specialist adviser.
Step 2 – Your no-obligation appointment
At this stage the adviser will look into your or your loved one’s circumstances and the type of care you’re considering. They’ll ask you about your income, your savings and any benefits you receive, and they’ll make sure you know what local authority and NHS funding you may be entitled to. At this stage they should be able to tell you whether they think you’ll need to pay for some or all of the care yourself and, if they think you will, they’ll talk you through the options available. Depending on the type of care you need, these could include some things you may not have thought about, such as letting your property, investing for income or releasing equity from your home*. Or, if it’s care home fees you’ll need to pay, they may decide a Care Fees Plan is the best option, as this guarantees an income for life, which is paid directly to the home.
*Equity release is only an option if you’re paying for care at home. But, please be aware that equity release is not right for everyone – it may affect your entitlement to state benefits and will reduce the value of your estate.
Step 3 – Considering the options
If your adviser has told you that you will need to pay for care and you want them to look into the best options for you or your loved one, they’ll research the care funding market, to find the most suitable solutions. Of course, they’ll keep your best interests in mind at all times. Once they have a recommendation, they’ll put together a report and call you to arrange a further phone appointment to talk through it. They’ll also explain the benefits and risks in more detail, so you know exactly what each option entails.
Step 4 – Putting the plan into action
Your adviser has recommended that you take out a Care Fees Plan and has given you some personalised quotes. You’ve decided that you want to go ahead with their recommendation, so the adviser goes through the application with you and submits it to the provider. They’ll see the application through to completion and ensure that you’re happy with it every step of the way. And, there’s never any pressure – you can change your mind at any time before completion – fees are only payable if you take out a recommended product.
To speak to a member of the team call0800 096 8703
You can also find out more about the service and fees on the Important Information page.