Page 24 - CPB March 21st

Understanding the Care Property Bond
Applicable time constraints
The Care Property Bond is not a short-term product
The cancellation right is unlikely to return you to your original position before the purchase of the Care Property Bond
Any decision to proceed should only be taken after due consultation with your family and with an independent financial adviser regulated by the Financial Conduct Authority and an independent solicitor. You should obtain tax advice.
There are significant costs in establishing the Care Property Bond and if you die within a few months, those costs may exceed the amount of income payments received. Whilst monies set aside to contribute towards future care home fees can be applied to reduce the mortgage over the property entered into by Shaw Insurance Group, it is likely that the property would
have to be rented out for quite some years before the beneficiaries of your Estate could receive the property free from debt.
There is a risk that you may pass away before the Care Property Bond is established as it will take some time to set up.
The Care Property Bond involves the swap of a property for an income stream payable for life. Within 30 days, you may cancel the Care Property Bond and at any time after the 30-day cancellation