Elsie, 54, is a secretary for a big law firm in the City. She is covered by her employer's group income protection scheme. However, the scheme will only cover her until she reaches retirement age - 60. While she will receive a substantial pension she would still like to ensure she has some kind of protection should she fall ill and need medical treatment. What long-term care options are available to her?
• icky Cave, Millfield Care Partnership Once Elsie retires, it seems private medical insurance (PMI) would be the product most suited to meet her stated objectives and she should take advice from a specialist in this market. Looking even further ahead, however, PMI cover will not meet the costs that would be incurred should Elsie become ill enough to need full-time care. Broadly speaking, if she has assets in excess of £20,500 at the time this happens, Elsie will have to meet the care costs in full. Some benefits may be available to help towards these costs but the majority may have to b...
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