The distribution of long term care is dominated by independent financial advisors (IFAs). New business premiums for financial advisors totaled £12m and accounted for 99% of the total market premiums. This reflects the need for professional and unbiased advice when purchasing a life policy.
The average cost of a care home is £36,000 a year, and those consumers with more than £23,250 worth of assets are not entitled to receive financial help with the cost of this care. Datamonitor predicts that as consumers recover from the financial crisis this is the type of product that many families will find invaluable.
Your key questions answered
How to grow and develop strategies to boost consumer engagement with long term care insurance.
Understand the protection market, the distribution trends and the key drivers of new business for long term care insurance.
Access Datamonitor’s forecasts for the market and valuable insight of how the sector is set to develop.
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UK Long Term Care Market
Features and benefits
Strategies to achieve growth in new business as RDR encourages advisors to gravitate towards the protection market.
Identify new distribution opportunities as providers expand their levels of consumer engagement.
Identify new opportunities for providers to enter the market as state funding decreases.
Enhance knowledge of the macro economy and how it drives or inhibits the sale of long term care insurance.
Major points covered in Table of Contents of this report include:
- EXECUTIVE SUMMARY AND CONCLUSIONS
- INTRODUCTION
- THE CHANGING STATE OF WELFARE REFORM
- MARKET CONTEXT OF LONG-TERM CARE INSURANCE
- THE FUTURE OF LONG-TERM CARE
- APPENDIX
Report Details:
Published: February 2012
No. of Pages:
Price: Single User License - US $ 4495
Corporate User License- US $ 11238
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