Understanding the options for funding can help make paying for later life care a little less daunting.
Meeting the cost of care is a growing issue for many people in the UK. One in three females and one in four males who reach 65 will need or receive some form of care during their lifetime¹. The average cost of residential care in the UK is currently estimated to be £28,600 a year².
Issues surrounding care, and the funding of care costs, can be complex and will vary depending on your personal needs and where you live, but here are answers to some common questions.
¹ Partnership - Third Care Index Care Report 2015/15
² Partnership - Funding Care In Old Age, January 2015