Blog: Dilnot got it right and financial services will benefit

The current system creates great uncertainty and worry about the future because it is confusing, unfair and unsustainable. People can't protect themselves against the risk of very high care costs and so risk losing all their assets, including their house. Someone who has lifetime care costs of £150,000 could lose up to 90% of their accumulated wealth. Under the proposed system everybody who gets free support from the state now will continue to do so and everybody else would be better off. Putting a limit on the maximum lifetime costs people may face will allow them to plan ahead for h...