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Level and Decreasing Life Insurance for Mortgage and Family Protection

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Critical Illness Cover will pay out upon diagnosis of a critical illness

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Whole of life policies cover funeral arrangements, inheritance and tax bills

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Over 50's plans are suitable for people with pre-existing medical conditions

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Underestimating the cost of elderly care

7th September, 2017

Underestimating the cost of elderly care

Provider Scottish Widows has found that people in the UK are underestimating the cost of elderly care by as much as £7bn a year. According to the think tank Centre for Modern Family, UK adults assume that elderly care costs on average £549 per week, whereas in reality this can be as high as £866 for a place in a UK nursing home.

The survey of 2,000 adults highlighted how unprepared some people are for the financial burden of elderly care. Just 15% of those surveyed said they saved money to pay for future care, with nearly half admitting they avoided even thinking about it. 

Many life insurance policies have the option for a portion of the cover to be paid out early to help with these expenses; if diagnosed with neurological issues, such as dementia.

Give us a call or 01202 714171 for information on care cover and how it can protect you later in life.

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