Lifetime Planning

Annuity vs Care Home

  Spreadsheets for IFAs

The second file helps IFAs make decisions about choosing between paying for care home fees or taking out an annuity.

Firstly, the user enters some basic values and assumptions.  In this example, the fund value is £500,000, the annuity would be £250,000, care home fees are £50,000 per year, rising at 6% per year, while the fund would rise at 8% per year. 

The spreadsheet compares the fund against an annuity and in this case finds that if the client is expected to be in the care home for 6 years or more, the annuity would be the better value. (click to enlarge)

A graph also reflects this: (click to enlarge)

The values on the spreadsheets can be changed, whereupon the new results are calculated instantaneously.

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