‘Clueless’ about the cost of long term care

A new report by the Chartered Insurance Institute (CII) shows that four in five people do not know the cost of long term care, and even more worryingly a staggering 50% think it is provided free of charge. The report from the CII called, “Who cares?” shows that the public is generally unaware of the cost of long term care and the need to make provision to meet these costs. Pension shortfall The current average care bill is £26,000 per year with the average stay in a care home lasting for two years. Pensioners currently have an average income of £10,000 per year, leaving ...