'Dilnot proposals based on personal assets'
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The Dilnot Commission on long-term care is expected to include funding proposals based on consumers’ existing assets when it reports next week, according to the Association of British Insurers.
The Commission on Funding of Care and Support, chaired by Andrew Dilnot, was set up in July 2010 to provide recommendations to the Government on how best to fund long-term care.
Speaking at the annual Protection Review conference in London last week, ABI assistant director of health and protection Nick Kirwan said said: “All the product solutions Dilnot has put forward are essentially based around the assets people already have such as disability-linked annuities so that people can take it out of their pension and equity release through their property value.
“Interestingly, he has also discussed adding long-term care riders onto critical-illness and income protection policies and he envisages an insurance to top up the state entitlement.”
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