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Comments On The Governments Current Proposals And Suggested Amendments

Given the limited space available, it is clearly not possible to consider much more than one age example but I think a lady of 75 is reasonably representative. However, the next table gives you a broad summary over the age range indicating who is likely to benefit from the Governments proposals and who is not, including some comments on how the suggestions I have just made would affect things. This summary assumes that income as well as long term care is provided. One general point I would make is that the plan benefits are always going to be more attractive for males because of the higher annuity rates payable and the lower long term care premiums

1 September 1996

Given the limited space available, it is clearly not possible to consider much more than one age example but I think a lady of 75 is reasonably representative. However, the next table gives you a broad summary over the age range indicating who is likely to benefit from the Government's proposals and who is not, including some comments on how the suggestions I have just made would affect things. This summary assumes that income as well as long term care is provided. One general point I would make is that the plan benefits are always going to be more attractive for males because of the higher annuity rates payable and the lower long term care premiums

If we consider first the mortgage/annuity schemes. Where property values are in the £50,000/£100,000 range a higher MIRAS limit and a greater protection ratio than £1.50/£1.00 is needed; the exception is males in the lower valued properties. This scheme is not attractive for a property of £125,000 even if the MIR...

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