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Funding Care At Home

There are many options available to you if you or your relative need care at home. These service providers offer 24/7 live-in care. Long-term care costs can be complicated. There are many variables and options available. It all depends on the type of care and how it is delivered.

It is important to plan for home care. It is possible that you will need to hire a respite care giver for several years. It is important to think about how you will fund it as not all state funding is available. Unfortunately, local authorities with tight budgets cannot provide funding for all residents.

Funding is also means-tested to ensure that only the most qualified people receive it. Self-funding is a way for many people to get quality care for their loved ones or themselves.

This will require a significant financial commitment. This is money well spent but must be planned and managed carefully. A high-quality, live-in care provider will present you with many options for care. They will assist you in deciding which one is best for you.

The good news is that home care is often less expensive than residential care. You can enjoy the capital appreciation and the comfort of staying in your own home.

There are many ways to fund living in care. You may be able to make a lump sum and get an annuity policy. This will provide a guaranteed fixed payment that will fund your care for as long or as you need.

The amount of care required and how long you expect to need, it will determine the cost. You can release capital from your home via an equity release program to pay for the annuity.