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HSBC launches LTC service

HSBC is launching a comprehensive long term care advice service, providing customers with specialist advice on funding immediate and future LTC needs.

Since HSBC has acquired the Nursing Homes Fees Agency, it ensures the bank can provide customers with a unique service offering free and fully qualified financial and legal advice on all aspects of LTC, including care available in the customer’s local area of residence, State benefits available to customers, obligations of local and health authorities specific to the customer’s location different options available for self-funders and a free helpline for customers facing the problem of choosing and paying for care for themselves or a relative.

HSBC senior manager, retirement services Richard Barker says: “HSBC identified that long-term care is a specialist area that needs dedicated advice. A view also shared by the OFT in a market study last year, in which they expressed concern about the lack of awareness and information available to people with long-term care requirements.

“The NHFA have a 60 per cent share in the long-term care market and specialist knowledge of the complexities of local and health authority charging and assessment procedures, State benefits and legal matters.

By offering their services through HSBC branches, we can ensure our customers get the best advice from fully qualified advisers in what can be a potentially high risk financial arena.”

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