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  Marek, you miss the main point. paying for LTC is a serious probloem and this is a scheme that will help a lot of people pay for it without selling their homes. It might also enable a bigger take up of care in your own home as well, not just nursing homes. I hope you enjoyed your customary rant against profit but in the real world profit is essential.
  
  Ross - I can assure you from the sharp end that this is a scheme that will sell. The present complex and expensive pre-paid care schemes are very problematical and have had a low take up, so much so that many products get pulled from the market. It is the expense and sheer complexity of them that is the problem.
  
  A simple and straightforward scheme like this will fill the void.
  
  I pointed out that a simple form of equity release could be developed just to fund such a scheme for those who dont have the savings. This does not create a debt trap such as you suggest and would help preserve a much higher percentage of a property value than having to sell the home to pay for care. Also many children would be willing to pay this £8,000 to help preserve their inheritance, it does not have to be paid for by the elderly person. Such children would tend to be in their 30's/40's when their parents are 65 and many that age have the means to raise this money, at least they should have if they have been even moderately sensible.
  
  As I have said, I am at the sharp end of this professionally and can vouch that there is a lot of peope who would be grateful for such a scheme.

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