Care costs can 'eat up' half the value of UK homes - Royal London

'Urgent action needed'

clock • 2 min read

The typical person entering residential care will face total bills of between £50,000 and £93,000, depending on where they live, according to analysis by Royal London.

Variations in house prices around the UK mean this could amount to anything from 18% to 56% of the value of the average house.   Royal London director of policy Steve Webb said: "Successive governments have failed to grasp the nettle when it comes to care costs. For over 20 years we have had a series of Royal Commissions, expert reports and policy papers, but little has changed." In the recent Budget, Chancellor Phillip Hammond announced a new Green Paper on social care would be published later on this year and pledged there would be no ‘death tax' i.e. no posthumous levies on people'...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Why product providers need autonomy on policy admin systems

Why product providers need autonomy on policy admin systems

What's holding providers back from achieving autonomy?

Professional Adviser
clock 17 October 2025 • 4 min read
Life cover planning: The changing landscape of protection for IHT

Life cover planning: The changing landscape of protection for IHT

'The world of protection advice is changing'

Naomi Greatorex
clock 16 September 2025 • 4 min read
Ipipeline expands Advanced Underwriting tool to whole of market

Ipipeline expands Advanced Underwriting tool to whole of market

Three further providers set to join

Jaskeet Briah
clock 01 September 2025 • 1 min read