23 October 2001

Number 12

 

Subject

 

Regulation of long-term care.

 

Background

 

The Treasury has announced that the selling and marketingof long-term care is to be regulated.

 

BUPAs position

 

BUPA welcomes the Treasurysannouncement that the selling and marketing of long-term care insurance is tobe regulated. This will require fullregulation of information and advice on long-term care plans, which can only begood for customers buying this type of insurance.

 

However, BUPA isdisappointed that the Treasury did not extend its announcement to criticalillness and income protection schemes. BUPA believes that these products shouldfall under the same regulatory framework as long-term care insurance.

 

Long-term care insurance is complex and represents asignificant investment for any individual, so providers need to ensure thatcustomers understand fully the product and cover they are buying.

 

Furtherinformation: GeoffBrown, Managing Director, BUPA Health Assurance,

01179842333.