What is the role of Insurance in Managing Dementia?

People living with Dementia are likely to face many challenges when dealing with insurers or other institutions such as banks/building societies. Some of these may include:

  • Products being too expensive/unaffordable.
  • Dementia is not covered by policies or price comparison websites, returning no results. Sometimes, there is a need to seek specialist insurance.
  • The language used is often jargon-heavy and can be negative in tone.
  • Information is often online, with no direct number to call or person to speak to
  • Organisations tend not to record conversations or flag conditions. This often results in repeatedly being asked the same questions every time a phone call is made.
  • According to the NHS, there is a general lack of patience for people with language or memory difficulties.

Coole Bevis Wealth Management offers a range of services aimed at helping those living with dementia. Specifically, navigating the financial services world can be daunting to many. We pride ourselves on our ability to help elderly and vulnerable clients with their financial matters.

Our award-winning, dedicated team work alongside Carewise, are members of the Society for Later Life Advisers (SOLLA), are ‘Dementia Friends’ and are part of the Worthing Dementia Action Alliance.

At the first meeting, we would look to review your overall position, identify your personal needs and objectives and offer solutions which could potentially include:

  • A care annuity is a type of insurance policy that provides a guaranteed, regular income for life (to pay for care costs) in exchange for an upfront lump sum.
  • Simplify/streamline your savings and investments.
  • Form a plan to help you pay for care costs
  • Helping families/attorneys with their affairs
  • A benefits review – are you in receipt of an Attendance Allowance? Are you receiving all the discounts or benefits which may apply to you?
  • Reduce/mitigate your exposure to Inheritance Tax (IHT)

How can we help?

We offer a 30-minute consultation at no cost; why not contact us on 01903 534587 to see how we can help you and your loved ones? Our town centre offices have free parking, accessible entry, an inclusive – downstairs WC, private meeting rooms and a dedicated team to offer assistance.

The value of investments can fall as well as rise and is not guaranteed.