Insurance against £75000 Care charges?

thorsoak

I'm an almost 70 year old widow. I have less than £6k in savings now, but do own the bungalow which OH and I bought in 2008 - currently valued at £275,000.

Currently I'm in excellent health - but having seen my dear OH's health suddenly break down, I'm aware that things can change quickly. My 4 children don't live near me - 2 don't even live in the UK, so my health care could become a problem in the future.

I'm wondering if it would be possible to take out an insurance policy which could fund any health care I might need in the future - thinking that my 4 children could fund this if they wished to "preserve" any inheritance .....any views/experience of this??

Thankyou!

xylophone

There might be something of interest here? http://www.needanadviser.com/html/article.php/zcid/144/type/article/finance/Old_Age_Care_Insurance

http://www.telegraph.co.uk/finance/personalfinance/insurance/longtermcare/9863300/Jeremy-Hunt-announces-elderly-care-cap-of-75000.html

quotememiserable

I would think it would be a very high cost insurance because the probability of needing care is high. Insurance is normally used for high cost low probability risks.