Security in Retirement

Equity release – Benefit from escalation in property values

Equity release is the method of releasing money from your main residence without having to move out of it, often to allow you to enjoy your retirement more fully.  Money released against the value of your home can indeed be used to meet whatever needs you may have.

This benefits individuals who suddenly find that their savings, investments and monthly pensions are just not enough to cover higher expenses like medical bills and special care.  In this way an individual or retired couple can access additional funds without actually selling their property, so benefiting from the escalation in property values through time. 

Long term care – Increasing concern for ageing population

Long term care is an increasingly important concern for our ageing population.  With the average life expectancy continuing to rise, more of us will need long term care services at some time in our lives.

Long term care insurance is designed to cover at least some of your expenses if you have a chronic but not life threatening illness, long term disability, or you are unable to live independently.

These policies can be complex and people purchasing them may not read the fine print and later be forced to cancel the policies because they do not fit their needs. Increasing premium rates over the years may also make such policies prohibitively expensive. Long term care insurance can be very beneficial but the type of care that an individual seeks or requires is an important consideration you will need to ensure any policy meets these requirements.