A few years ago, someone asked me how to fix social care costs for the elderly. One eventual idea of ours was that, at age 65, people could pledge to pay a higher level of inheritance tax as a form of insurance against social care costs. If, say, you pledged £20,000 of the value of your estate, you would receive an annuity worth perhaps £150,000 should you develop dementia or need long-term care.
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Unlock this article
You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in