Analysing And Reviewing A Clients Position

Question 1

A future long-term care insurance policy is regulated as:

A. Investment business
B. Pure protection
C. General insurance

Answer 1

Investment business

Question 2

James and Kay won their home as joint tenants. Although mentally competent, Kay is physically frail and will soon enter in to residential care. Why may James and Kay consider changing the ownership of their home to tenants in common?

A. It will mean that only half the property will be included in Kay’s local authority financial assessment
B. If James dies, the whole property will be outside Kay’s local authority financial assessment
C. If James does, his half of the property will be outside Kay’s local authority financial assessment

Answer 2

If James dies, his half of the property will be outside Kay’s local authority financial assessment

Question 3

If someone enters in to residential care, for how long should their property be disregarded as per of the local authority financial assessment?

A. 6 weeks
B. 12 weeks
C. 16 weeks

Answer 3

12 weeks

Question 4

Kavita, who is in a local authority funded residential care home,, has recently been widowed. Why may it be necessary for the local authority to conduct a further financial assessment of Kavita?

A. The eligibility criteria are different for single people
B. She may have inherited assets from her spouse
C. She has reached her annual review

Answer 4

She may have inherited assets from her spouse