Part of the debate – in the House of Lords at 12:07 pm on 9 September 2021.
The noble Lord will be well aware that historically there has been very low demand for social care insurance products and insurers have actually withdrawn products from the market. We believe that there will now be certainty about costs faced by individuals. We hope that more financial products will come on to the market to enable individuals to plan for their future care needs. We intend to work with the financial services industry to innovate and help people insure themselves against expenditure up to the limits.