Long term care insurance ‘at the crossroads’


Posted on September 1st, by editor in Caring Times. No Comments

Take-up of private long term care insurance remains very small, according to to Laing & Buisson1s latest report on the UK healthcare insurance market – Health & Care Cover UK 2004. The report says actual demand is far below the potential customer base of people at risk of needing long term care, and who could potentially afford premiums out of either income or assets. “The main barriers . . . are affordability and the low level of appeal to younger people of a type of product which provides benefits t the end of life,” the report says. “Lack of public awareness of the need for people to make their own provision has been quoted as another barrier in the past, though this has become less important as the profile of the issue has risen in recent years.” The report says there are mixed signals from other developed countries. In the United States, where long term care insurance has been available for 15 years, only 4-5 per cent of the population are covered, although 10-20 per cent could afford to be. In France, m





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