The Partnership Care Index says that 41% of people between
45 and 85 say that they would need to fund long-term residential care by
renting or selling their property.
Property was the 3rd highest payment method among the
respondents, behind the State funding their care and pension income.
Only 4% would use an insurance policy for long-term care.
The Partnership Care Index conducted 1023 online interviews
with consumers aged over 45, including 100 interviews with those aged 75 and
over, to measure attitudes towards long-term care across the UK.
If you went into residential care at some point in the
future how do you think you might pay for it?
The state
52%
Pension income
45%
Savings
35%
Selling your home
31%
Income from savings and investments
24%
Renting home out
10%
An insurance policy for long-term care
4%
Chris Horlick of Partnership says, “The view that property
is likely to be a key source of funding for any care costs is becoming more
widespread. As costs of long-term care increase more retirees are struggling to
find methods to fund care aside from utilising assets such as property.”
Long term care news: 10 May 2012
