Partnership suspends pre-funded long-term care product

Partnership has suspended sales of Care Prepared, the last remaining pre-funded long-term care product on the market, with immediate effect.

The provider was the single supplier of long-term-care insurance and the firm has indicated there could be an opportunity to re-launch the product if government proposals for future provision of long term care include insurance -type plans. Partnership said there was very little demand for the product and that it had sold just over 20 this year.

Jim Boyd, director of corporate affairs at Partnership, commented: “Very few people want to purchase a product that they may never use. We had a very poor take-up of this but we want to keep the product on the shelf to see whether there is any future for pre-funding.”

Mr Boyd said it was anticipated that Andrew Lansley, minister of health, would announce a long-term care commission that will consult over 12 months with the care industry before delivering policy proposals a year after that.

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