Promedica24 joins the discussion about later-life care funding in the UK.
Promedica24 has joined the conversation on how people should be helped by the government to pay for the care they need in later life.
At the Financial Services Expo (FSE) Midlands event, people from a wide range of sectors and businesses came together to discuss how they think the Government could help people secure funding for home care provided by companies such as Promedica24.
Expert Stuart Wilson from the Later Life Academy said that the Government needs to offer better incentives such as tax breaks to encourage people to put money towards their care needs for their old age. He also called on them to offer better advice around options such as equity release that can be used to fund care needs, as currently it is a difficult and confusing process that is often forced upon people by their Local Authority.
Senior care franchise Promedica24 offers a wide range of live-in care options including dementia care, temporary respite care and companionship and daily assistance. However, one of the services it provides, long-term care, is one of the major areas that many at the expo believe needs to have better funding options.
Promedica24’s Rakesh Sharma suggested that banks and companies offering lending services could improve what they offer customers, going as far as to suggest that products specifically for care needs could be introduced.
“Lenders could do a lot more,” he said. “We could produce bespoke products for this. I like the fact, for example, that customers can pay interest, plus people want to live in their own homes and they want to have choices.”
Since 2002, Promedica24 has been providing compassionate live-in care to vulnerable and elderly people as a better alternative to residential care. It’s changed the lives of more than 24,000 families to date by offering them peace of mind, knowing that their loved ones are being well looked after even when they aren’t around.
Sophie Cole, Point Franchise ©
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