The typical person entering residential care will face total bills of between £50,000 and £93,000 depending on where they live, according to analysis by Royal London.
Variations in house prices around the UK mean that this could amount to anything from 18% to 56% of the value of the average house. Steve Webb, director of Policy at Royal London said: "Successive governments have failed to grasp the nettle when it comes to care costs. For over 20 years we have had a series of Royal Commissions, expert reports and policy papers, but little has changed." In the recent Budget, Chancellor Phillip Hammond announced that a new Green Paper into social care would...
British Friendly has introduced an online Adviser Toolkit to encourage income protection sales.
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.