LTC protection 'to remain a niche product': OECD

According to the OECD's report Help Wanted? Providing and Paying for LTC, there are only 40,000 LTC policies in force in the UK, equivalent to just 0.05% of the over-40 population. Theoretically, the financial uncertainties surrounding the potential need for LTC creates a "powerful rationale" for LTC annuities, the report said. However, a variety of factors including lack of consumer awareness, other financial responsibilities and mistrust of financial products will hold back sales of LTC products, the OECD says. "Even in countries where public LTC coverage is less comprehensive, p...