Public support for long term care insurance is growing, according to a recent survey, which says that over three quarters now saying they are in favour.
The research, which was commissioned by the ABI, also showed fewer than one in 10 of those surveyed still believed that long term provision should be solely the responsibility of the State.
With over half the population now recognising the importance of long term care, awareness of the issues involved is strong – but the the ABI has produced two plain language guides designed to ensure that even more of the population becomes aware of the factors that will affect an increasingly aging society.
Long Term Care: Frequently Asked Questions aims to help consumers make informed decisions about the likelihood of needing insurance, while Long Term Care Insurance in the UK provides facts and figures about the costs of residential and nursing care and and illustrates how this can be managed by taking out an insurance policy.
Director general of the ABI Mark Boleat said: “With more people likely to need care in the future and limited state assistance the need for an effective regime between state and private provision is essential.”
He continued: “The association is keenly awaiting the outcome of the Royal Commission’s report on the funding and provision of long term care, as greater certainty on the role of the State will enable people to plan better for their future needs, including considering insurance.”