SLC Benefits - Shaw Lifetime Care

Helps pay the customer’s care home fees

Provides the customer with a professional care needs assessment in their own home.

Pays the shortfall between a customer’s care home fees and their pension income for 3 years.

Continues to pay this shortfall after the three year period for as long as needed through a discretionary grant.
Takes care of the customer’s home

Removes any need to sell the customer’s home and permits the customer to retain the freehold of their home.

Permits the customer to pass their home onto their chosen beneficiaries.

Improves the property to a good lettable standard, lets and manages it.
Ensures the customer’s chosen beneficiaries inherit their home

Shaw Lifetime Care secures these services by taking a lease on the customer’s home and then granting the customer or their beneficiaries. The right to terminate the lease any time subject to payment of a lease break fee

Provides the customer with a schedule showing the cost of the lease break fee each year until it has reduced to nil (typically after 10 years).

Overcomes the limitations of the Government’s Deferred Payment Agreement ( DPA ). DPAs offer an alternative way of paying care home fees with the wealth in your house without selling your house.

Almost none of the above benefits provided by our plan (CHIP) and listed above are available with a DPA : See Product Comparison pages

Feature	Benefit
Free Consultation with Independent Advice Partner	Ensures that that the care recipient and their family are fully informed of all options available to them.
Care Needs Assessment	Gives the family and care recipient a detailed report of the nurse assessors finding and their recommendations. Free of charge
Care Funding Assessment	Allows the family to fully understand the financial situation and ensures that the right amount of care contribution is calculated.
Lets and manages the property	Takes the stress away from the family having to find tenants, collect rent, carry out property inspections, or on-going property maintenance.
Restores the property to a lettable standard	No upfront cost implication for the family and they do not need to then source, manage or fund the work that needs to be carried out
Pays the care contribution directly to the care home	As the payment is made directly to the Care Home the care recipient does not need to declare this as an additional income. Thus avoiding income tax charges.
The CHIP® is repaid over a set amount of time unwinding to £0.	The chosen heirs can inherit the home in a good state of repair, and with its wealth fully intact.
Care contribution paid by Shaw Foundation after year 3	Provides family with cer5tainty that care contribution will be met for the natural life of the care recipient *
CHIP® calculation only takes three years of care contribution (and associated fees) into consideration.	To ensure that it is a reasonable expectation that the house will return to the heirs in a timely manner. SLC took the decision to only include three years of funding to make the CHIP® the only ethical solution on the market.