Only 4% of people have planned LTC funding

This is despite 94% of people predicting that care home fees will cost them at least £10,000 a year. Results from the ABI's Quarterly Consumer Survey for the last three months of 2010 illustrate that people clearly understand care costs will be very significant, but that very few people plan ahead to meet these costs, the Association said. One in five thought they would either not have to move into a home (12%) while 8% believed the state would pay. Of the 17% who had considered how to meet LTC expenses, 11% were relying on the sale of their home and 2% were expecting friends and f...