LTC specialist SureCare, part of the Prosperity Financial Planning Group, has joined the Templar Group after poor take-up of long-term care business forced it to look for new business areas.
Managing director Alan Marks blames providers for pricing clients out of the market. The firm has two RIs and was set up to advise clients over 55 on immediate and pre-funded LTC and part-funded care.
In July, Skandia pulled out of the pre-funded LTC market, leaving the Pension Annuity Friendly Society as the sole provider of the product.
Marks says: “With insurers pulling out of the LTC market and those remaining raising premiums, it has got to the stage where we have had to say, what is the point?” Nursing Homes Fees Agency adviser Paul Loom says: “The attitudes of providers and consumers need to change.”