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Paying for care

There is a worrying disparity between how much the public thinks later-life care costs and the cost of this service in reality - increased awareness and financial planning are the only ways around the problem

30 November 2015

Many people aren't aware of the costs involved in later-life care. They are floundering with their financial planning and leaving it to the last minute. These are the findings of research we recently carried out for our report, No Place Like Home.

Later-life care means there a significant financial outlay on the horizon for everyone, but just 1.9 per cent of people speak to a professional adviser who is a specialist in 'later life', to research and plan good quality care. This means they have no knowledge of alternative care options, such as live-in care. In fact, 97 per cent of people feel most comfortable in their own home, and 71 per cent want to be living in their own home when they are over 75.

Where little finan...

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