Long-term care cover fails to take off

Article Abstract:

The UK government is seeking to promote insurance for long-term care, but this type of insurance has not proved popular. Care can cost the aged 350 pounds sterling weekly, forcing them to sell their homes. The government has lifted tax on the benefits from these policies for people being cared for at home in the Nov 1995 Budget. There was already no tax on benefit paid to the aged living in nursing homes. The cost of this insurance appears little affected by the Budget and premiums are expensive, especially since only a sixth of the population is likely to need such care.

Other Communications Equipment Manufacturing, Communications equipment, not elsewhere classified, Nurse Call Systems, Finance, Intercoms

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Lump sum solves long term care problem

Article Abstract:

Insurance for nursing home care should not take precedence over a pension since there is a one in five possiblity of the aged being cared for in a nursing home and they are not likely to spend more than two years there. Investors should first accumulate a pension and then purchase a policy for nursing home care using a lump sum. The issue has been given publicity in the UK due to fears that assets accumulated by the aged have to be used to pay for their care, but this does not affect people with no assets who are cared for from public funds.

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Skipping the waiting list

Article Abstract:

Medical insurance allows those covered to shorten waiting times for treatment and this can be especially important for self-employed people. Smaller hospitals in the private sector may not be as well equipped as public sector hospitals and this could affect the quality of treatment. The extent of cover is not always clear and many conditions may be excluded. these tend to include pregnancy, long-term illnesses and illnesses related to drugs and consumption of alcohol.

Analysis

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