The Pension Annuity Friendly Society is aiming to increase the number of
IFAs advising on long-term care insurance and increase its market share
with the help of a new guide.
The guide takes IFAs new to the market through issues including the care
options, costs of care and the role of local authorities. It is hoped the
step-by-step guide will help PAFS consolidate and win market share. It is
also expected to boost the society's immediate needs annuity.
Clients can buy the annuity if they are in a care home or about to enter a
home. Immediate needs annuities pay an enhanced income direct to the care
provider for as long as the policyholder lives.
Marketing manager Ben Nightingale says: “The market can be a daunting
prospect for IFAs new to the area but this is a massive and untapped
market where IFAs can really flourish.”