FTAdviser.com

Advertising

At the conferences, David Cameron expressed concerns over “the rocketing costs of social care” while Nick Clegg, leader of the Liberal Democrats, set out how local government was wasting more than a billion pounds filling in forms for Whitehall inspectors which could be put to better use providing care for the elderly.

Meanwhile, Gordon Brown told the Labour conference: “For the first time ever, we have got more British pensioners than British children, more people living longer on fixed incomes and worried about whether they will need long-term care.”

The ifs School of Finance is offering a new qualification in long-term care insurance in November. This new certificate will help to enable practitioners to give knowledgeable advice in what can be a very complex area.

Phil Hall, head of public affairs for the ifs School of Finance, said: “Long-term care is an issue that will increasingly affect society as a whole but the financial services industry can play a crucial role in providing solutions. In doing so it is vital that consumers receive appropriate advice.”

Janet Davies managing director of care fees specialist Symponia, said: “The issue of tackling long term care has nothing to do with examinations. Less than 11 per cent of advisers have taken CF8, the Chartered Insurance Institute’s exam. A new exam will test the tested. Most advisers do not want to advise on long term care because it is a complex issue. The fact that all the political parties mentioned it at conference is a sign they are aware of the issues.”