Mothers Life Assurance Bond

dunstonh

Reading online the means test is capped at just over £23500 , as my mother has more than this, would I need to worry about a means test as If she went into a care home, we would be liable for all fees anyway?

Investment bonds are not included in the means test.    However, if you surrender the investment bond, it would be included as it wouldn't be in the tax wrapper that is exempt any more.

GarbageGuy

dunstonh said:

Reading online the means test is capped at just over £23500 , as my mother has more than this, would I need to worry about a means test as If she went into a care home, we would be liable for all fees anyway?

Investment bonds are not included in the means test.    However, if you surrender the investment bond, it would be included as it wouldn't be in the tax wrapper that is exempt any more.

Thanks I meant over all as her assets are higher than £23500, would she take a means test?

I now have the T&C of the bond, what am i looking for if I did cash it in at a later date please?