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Pensioners not planning for Long Term Care

The vast majority of pensioners are not planning for Long Term Care, says a survey from LTC insurers GE Life.

The survey found that four out of five pensioners had given no thought to how they would meet the cost of care if they become too ill to look after themselves.

GE Life point out that 3 million people spend their last years in care homes, with families often left to pick up the financial burden.

Only 6%of those surveyed expected their family to pay. One in three expected to rely on savings.28%expected the government would pay. One in five had no idea how they would pay.

GE life predict that as life expectancy will increase faster than limited state funding, and too few people have made personal provision, the problem of funding care will get worse.

 

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Pensioners not planning for Long Term Care
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