Mixed reception for retirement insurance
Article Abstract:
The UK government is proposing an insurance scheme to fund long-term care for the aged, which will allow customers to retain wealth and not have to fund their own care from assets. The aged with assets worth over 16,000 pounds sterling do not have state aid, but under the proposed scheme this threshold would be raised in proportion to their insurance cover. Critics argue that only 10% of pensioners have funds to pay for this type of insurance, and they tend to be wealthier so less likely to need such insurance. Age Concern also notes that such insurance could be mis-sold.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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A cash safety net for your health
Article Abstract:
United Kingdom critical illness insurance is offered by over 60 companies and there are good reasons for buying this type of insurance. Increased longevity means that critical illness is more likely, and is is four times more likely to occur to an individual than death prior to the age of 65-years-old. There is a debate as to whether permanent health insurance is more necessary than critical illness insurance, and there is some overlap between the products, though critical illness insurance provides a lump sum, and health insurance gives an income.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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