Over 65 Travel News

18 April 2007  Elderly long-term care cost 'outstrips private education'
The cost of long-term care for the elderly in the UK exceeds that of tuition at Britain's most renowned private schools, it has been claimed, while the over-50s are underestimating the cost of care for themselves and their family in the future.

Recently published research from Saga Personal Finance reveals that a quarter of those aged over 50 wrongly believe that a year's tuition at Eton would cost more than the same time spent in a nursing home.

Owain Wright, head of care funding services at Saga, said: "We often find that many people don't think about funding long-term care until the last minute when they are faced with a relative who needs immediate care."

He added that the cost of this care can often be a shock, while Britons should be aware that they could be eligible for funding to cover some of the cost of this care through state benefits.

Last year, Fidelity International reported that almost two million retired Britons do not have any plans to cover the cost of any long-term care they may require later in life, while the average stay in a nursing home in Britain was calculated as three years.

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