Should financial health checks and care accounts become part of the long-term care market? Fiona Murphy looks at alternative recommendations for funding.
Nudge techniques have been a real focus for financial services in recent years and a new report argues these principles should be built into long-term care (LTC) planning. The study Unlocking the Potential, by Cass Business School professor Les Mayhew and think tank Demos' deputy director Duncan Mayhew, urges that people should be required to have a financial 'health check' before receiving their first state pension payment. This would ensure that people were thinking about making provisions for long-term care as well as retirement income, the report argues. O'Leary warns: "Once-in...
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