Wealth bands would open up the LTC market actuaries told

Speaking at the Actuarial Profession Health and Care Conference yesterday, Professor Les Mayhew, of the faculty of Actuarial Science and Insurance at Cass Business School, said those needing LTC could be placed into wealth bands according to the number of years of care they could afford based on assets and income. People would then receive a proportion of costs from the state based on which band they were placed in. They would then be able to use a variety of financial products to cover the cost gap. Mayhew said: "Insurance has not been popular to date and one of the reasons is that p...