Immediate Care Plan – ICP
An Immediate Care Plan (ICP) is what is produced after an assessment process of those individuals who are paying for care in their later years has been finalised. This informs and creates the basis of the annuity eventually underwritten to pay those care fees. The clinical assessment process associated with this has been agreed between the major providers of immediate care annuities and Medicals Direct. It is aimed at simplifying the process of getting firm offer terms on an annuity for your customers/clients. These applications must be made through a financial adviser.
Past experience suggests that GPs and Care Homes are more likely to deal with a request for a single report than they are to action simultaneous requests from several different insurers at the same time and it is this experience that drives the joint process developed.
Advantages to the Independent Financial Adviser
Your client/customer or their representative will only need to complete one form to obtain terms from each of the participating providers. You will only need to submit that one form on their behalf to a central mailbox at Medicals Direct and the process will begin.
Which Insurance Providers are taking part?
The process is available from the current member companies, Aviva, Just, Legal & General and National Friendly. Other plan providers or new ones entering the market are welcome to join the group to take advantage of this process.
What is the basis of the process?
Two important developments make the process possible.
The use of a single form, the Care Fees Plan Questionnaire (CFPQ) including a single consent process and a single assessment provider, Medicals Direct.
Please download the CFPQ from this website, you must not use any previous versions as this may invalidate your application.
On receipt of the correctly completed CFPQ, Medicals Direct will contact the care home and make an appointment to interview the manager or other qualified person there able to answer questions about the care recipient. The GP may be contacted too, and a summary report requested from them. Different insurers request different information. Medicals Direct knows the rules around that. When completed all evidence required to make informed underwriting decisions will be uploaded to the Medicals Direct portal; Meditrak. The insurance providers can download whatever they require from there.
