We would love to chat so please request a callback from our expert team.  Alternatively, our lines are open Mon-Fri 8am-7pm, Sat-Sun 9am-5.30pm.

Helping Hands Logo
Find your branch
CQC & CIW Regulated
Receive care in 24 hours
4.5 Star Rating
Rated Excellent on
Trustpilot
Industry leading carer training

Immediate needs annuity

Immediate needs annuity

What is an immediate needs annuity?

An immediate needs annuity is insurance designed to help you pay for care.

Immediate needs annuities are a type of insurance policy, whereby a guaranteed regular income is provided for the cost of your care.

An immediate needs annuity pays a regular tax-free income to your registered care provider for the rest of your life. There is no reliance on investment performance to achieve this, and all that is required is a one-off lump sum payment to purchase the plan. The cost of the plan is determined by a number of factors, including the monthly payment you require, gender, age, and medical history.

Immediate needs annuities are also known as:

  • Immediate care annuity
  • Annuity for home care fees
  • Immediate care plans
  • Immediate need care annuity
    • A smiling man with curly hair, wearing a purple shirt and name badge, holds a laundry basket filled with towels in a cosy, stone-walled room.
    Call us for advice on immediate needs annuities

    Financial peace of mind

    There are a number of concerns that you and your loved ones may have when faced with the issue of paying for care, for what is usually an unknown length of time.

    A major worry may be that the money might run out, so you will no longer be able to have the care provider or type of care (such as care in your own home) that you prefer. For many, the fact that the value within the estate is being depleted is also a considerable concern. This is where an immediate needs annuity can be extremely beneficial – you can rest assured that your preferred care provider is paid for without impacting on your care and comfort.

    An older woman with short blonde hair and glasses smiles while knitting a grey garment, sitting on a wicker chair indoors and talking to another person whose back is facing the camera.

    A plan fully tailored to your needs

    Each immediate needs annuity is tailored around your individual care needs and priorities, and there is no ‘fixed price’ for a care plan. There are lots of different immediate needs annuities on the market, and it’s important that you shop around to find the right policy for you.

    It’s imperative to always seek independent advice when considering taking out an immediate needs annuity.

    Find out more
    An older man with glasses and a younger woman sit on a sofa, smiling and laughing together while looking at a tablet device. The atmosphere is warm and friendly.

    Advantages and disadvantages of an immediate needs annuity

    To ensure that you choose the right type of support for you, it’s important that you weigh up all of your options when looking at an immediate needs annuity.

    Two women stand by an open car boot, smiling as they hold reusable shopping bags filled with groceries, including flowers and a carton.
    Advantages of an immediate needs annuity
    There are a number of advantages to opting for an immediate needs annuity.
    Peace of mind knowing that your care needs are continually paid for
    For an extra payment, you can purchase protection in case you pass away
    Arrange for fixed payments or payments to change with inflation
    Two women sit on an outdoor bench covered with a striped blanket, enjoying drinks and smiling at each other. A picnic hamper with plates and cutlery is set between them. A hedge and green grass are in the background.
    Drawbacks of an immediate needs annuity
    There are also several drawbacks to an immediate needs annuity to consider.
    Most immediate needs annuities require an upfront payment
    Not suitable if you only need temporary care
    Unable to have a refund if you stop needing care

    Discuss your needs with our friendly team

    When the need for care arises, we’d love to hear how we can help. Get in touch with our customer support team to discuss your support needs.

    Speak to our team​

    Our friendly, knowledgeable team can answer your questions and talk you through your options. We are available 7 days a week.

    Book a free care assessment

    Your local Helping Hands care manager will visit you to understand your needs and preferences and discuss how we can help. We can visit you at home, in hospital or even a care home to carry out the care assessment.​

    Confirm your care package

    We create a tailored care plan for you to review. Once you’ve agreed the plan, we can organise care in as little as 24 hours.​

    Speak to a care professional today