Claiming on insurance to help cover the costs of care
Don’t rush into any new arrangements to pay for your care costs before checking to see if you can claim on an existing insurance policy. Lots of us have taken out some kind of health insurance in the past, which might turn out to be a big help now.
Check for insurance policies
“I took them out that long ago, I’d forgotten all about my old insurance policies. But they’re going to make a big difference now. I’m so glad I checked!” – Kate
Think carefully. Could you, or someone you’re caring for, have any of the following?
- life insurance with critical illness cover or a standalone critical illness policy
- a long-term care insurance policy – although these are no longer available, they were very popular at one time
- an over-50s plan
- terminal illness cover – this might have been included when you took out your mortgage
- income protection cover
- cover taken out on your behalf by a current employer or someone you’ve worked for in the past
- cover that someone else in your family has taken out on your behalf
- a joint policy taken out with your spouse or partner that will cover you if you’re ill
How to claim
Find as much of the original paperwork relating to the insurance policy as you can.
If the policy was bought through a broker, contact them first. They might be able to support you or manage the claim on your behalf.
If you don’t have any insurance policies that cover you, and you need to pay for some or all of your own care costs, there are other options for you to consider.