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Most adults want care funding advice

7th December 2017

Most people think they would benefit from being referred to a financial adviser to discuss how to fund care options later in life, according to research.

Just Group polled 11,870 individuals and found 54% think it would be helpful if their local authority referred them to a financial adviser to chat about their care options, while 34% would expect this as the norm.

The report showed confusion around government policy has led many to delay their plans for care in later life.

73% of people had not thought about care, planned, or spoken with family about it, while 61% said they were confused about policy for care funding.

The report called for clearer information to be provided about care policy, and for earlier planning rather than a "fingers crossed" approach.

Planning effectively would relieve pressure on local councils and private care providers, as well as giving individuals greater autonomy when deciding on the care they receive.

Catriona Lumiste, care fees planning specialist at the Society of Later Life Advisers, said:

"Planning for care is so different to many other aspects of financial planning.

"Putting a plan in place offers individuals some control and peace of mind when they may feel daunted going through the maze of options for long-term care needs particularly when so much emotion and decision-making is involved."

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