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Home Protection Plan offers hope to thousands

The Tories have pledged to end the predicament of thousands of elderly people forced to sell their homes to pay for their residential care.

They propose that for a one-off payment people in England would receive a guarantee that all fees for permanent residential care would be waived for the rest of their life. The Conservatives said the "home protection plan", costing around £8,000 per person, could be run by existing insurers and would not require any public money. 

Shadow health secretary Andrew Lansley said that it would end a "major injustice" whereby an estimated 45,000 elderly people are each year forced to sell their homes to pay for residential care.  The announcement is clearly intended to trump Gordon Brown's promise at the Labour conference to provide free personal home care for 350,000 elderly people in England and Wales from September next year.  Mr Lansley said: "This scheme is a genuinely huge step forward for England's care system and will lift a major weight of worry from the shoulders of all older people and their families."  

Under the proposals, people will have the opportunity to sign up to the scheme for an estimated one-off joining fee of around £8,000 when they reach the state retirement age of 65.    The role of the Government would be restricted to setting out basic safeguards to ensure that the "value for money" scheme remains fair and financially viable.

Most people who enter residential care stay for at least two years, with annual fees averaging about £26,000. Currently  anyone entering such care must pay their fees themselves if they have assets worth over £23,000 - including their home.

If you are concerned about the cost of care and need help planning for your future, or that of a family member, then contact LaterLife Security advisors who can help guide you through the complicated information available from the government, local councils and care providers – giving you a plan that will provide for your future and give you total peace of mind.
Take advantage of a free initial consulation, Tel: 01462 687333  Email:



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