The Pension Annuity Friendly Society (PAFS) recently launched a new pre-funded long term care (LTC) solution. Will this wave of innovation continue and is the market likely to see more new products?
Market views Chris Ellicott, Age Concern Financial Partnerships The Flexible Care Account has been trailed extensively, so it was interesting to see what PAFS would come up with in its new 'Activities of Daily Living (ADL) free plan'. I am sorry to say I am disappointed. For an IFA looking to give a client access to the additional income needed to provide the help they prefer, it does not match current offerings. Personal and domestic help, which are what most people need, as well as assisting devices, all have to be paid for from the client's own money. Having no ADL ...
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