IPTM1150 | Fundamental concepts: what are immediate needs annuities?

Immediate Needs Annuities are a form of purchased life annuity, see IPTM1135. They are sometimes also referred to as ‘long termcare insurance’. Such annuities are usually purchased by a lump sum premium to meetan immediate need for long term care, often, though not necessarily, in a care home.Benefits normally continue until death. More details are available at IPTM6200 onwards.

| Further reference and feedback | IPTM1013 | |——————————–|——————————————————————————————————|