Page 10 - CPB March 21st
P. 10
The main benefits
of the Care Property Bond
The Care Property Bond provides the following:
• monthly income stream indexed linked to the Consumer Price Index plus 1% per each year supplementing existing pension or other income,
• this additional income stream is for life. It is not subject to any UK tax and paid directly to the registered care home chosen by the customer (please note that tax legislation is subject to change),
• once the property has been swapped for the Care Property Bond, the property is renovated, insured, maintained and let out under an assured shorthold tenancy,
• the equity withdrawal from the property would be limited to 5 years’ worth of income payments plus the set-up costs and ongoing charges of Shaw Insurance Group,
• it maintains the possibility to pass on the net equity of the property (or the actual property subject to the choices made by the personal representatives) to the customer’s Estate upon their death, and
• the Care Property Bond does not depend upon investments carried out by the Shaw Insurance Group.
