Tories detail long-term care home protection plan

A scheme to prevent older people being forced to sell their homes to pay for long-term care has been announced by the Conservatives.

Under the proposed Home Protection Scheme, people could avoid residential care costs for life by paying a one-off fee of £8,000 when they hit 65. The policy was announced at today's Conservative Party conference.

The Association of British Insurers (ABI) has said it would support the plan, though ‘the details will need to be examined carefully':

"The ABI has long advocated a partnership between the public and private sectors to deal with the crucial, and costly, issue of providing long-term care for the elderly.

"This proposal has many merits and we support its aims in principle - we're pleased that the Conservatives are addressing this issue in a serious way. We look forward to working closely together on the scheme's development."

Andrew Moss, Aviva global chief executive, said he was ‘encouraged' by the plans:

"Providing a better level of care requires a clear, fair and sustainable funding system to give people the reassurance that they will be well looked after beyond their retirement.

"We believe this can best be provided by insurers and the government working in partnership and we look forward to working through the details of the proposal".

Ministers have criticised the voluntary scheme as ‘flawed and hasty'.

Labour's own plans for a National Care Service focus on ensuring those with the ‘highest needs' get the care they require while remaining in their own home.