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Adapting to changing needs of clients

Steve Payne

Health secretary Jeremy Hunt’s recent announcement that there will be a rise from £23,250 to £123,000 in the amount of assets people have before having to contribute to the costs of basic nursing care has been met with applause by many, but what about those with assets in housing over £123,000?

There is, I believe, a chance that this could lead to a rise of new forms of protection for care needs. If that is the case, the industry needs to be ready to act.

When it comes to protection insurance, there’s no one size fits all’ – people’s needs change depending on what stage of life they are at.

A single person with no dependents may view income protection insurance as the most suitable cover for them.

The same person may well find that life insurance and critical illness cover become bigger priorities when they marry and start a family.

As an industry we need to be able to adapt to each client’s individual needs and ready ourselves for societal changes that will impact these very same clients.

The retiring population is increasing, meaning that there is now an even wider variety of protection needs that need to be met.

The Government’s announcement about the future of social care is a good thing insomuch that people now know what the future holds for them and can plan accordingly.

If we as an industry pay attention to the real impact these changes have, we can react appropriately and at the right time, ensuring that we continue to offer peace of mind to those who need it most, when they need it most.


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