1

Life expectancy continues to lengthen

Average life expectancy in England is longer than it has been since records began. For example:

Men
65-year-olds can expect to live for another 19 years
75-year-olds can expect to live for another 12 years
85-year-olds can expect to live for another 6 years
95-year-olds can expect to live for another 3 years

Women
65-year-olds can expect to live for another 21 years
75-year-olds can expect to live for another 13 years
85-year-olds can expect to live for another 7 years
95-year-olds can expect to live for another 3 years

The evidence shows that people are living longer, but many are in poor health. It is therefore increasingly likely that you and your loved ones will require some form of long-term care in old age.

Source: Recent trends in life expectancy at older ages

2

Residential and nursing care could cost more than you think

According to a 2013 report, here are the average costs to live in a care home. Fees will obviously vary depending where in the UK you live:

Residential care home £28,500 per year
Nursing home £37,500 per year

With prices like that, it is important to be aware of the various ways to fund long-term care.

Source: Care of Elderly People UK Market Survey 2012/13

3

Eligibility for state help is limited

57% of people have to pay some or all of their care home fees themselves.

If your income and savings are over a certain limit, you will have to pay some or all of the costs yourself.

Source: PayingForCare

4

Negotiating your way through the care system can be frustrating

You will have to deal with multiple agencies, including your local GP, health authority and social services.

The local council can create a debt against your estate to be paid after your death meaning that you will have less that can be passed on to your family.

This challenge can be magnified by the fact that it comes at a difficult and emotional time for the family.

5

We can help!

Every situation is different, but we have the experience to suggest the appropriate solution for your particular case.

To arrange your initial appointment, please contact us on 020 8891 0711 or hello@globeifa.co.uk