Pay when you die solution now available for pensionersJuly 11th, 2012 - 10:11 pm ICT by Aishwarya Bhatt
London, July 11 (THAINDIAN NEWS) ‘Pay when you die’ solution is now available to pensioners who have to check into nursing homes for medical aid. Earlier pensioners who couldn’t afford medical care needed to sell off their property in order to raise funds for their medical treatment.
However now they have a new option available to them in the form of ‘pay when you die.’ In this option the pensioners can now borrow money from the government against their property and when they die then the government would sell off their property in order to raise money that the pensioner had originally borrowed.
The Health Secretary shed more light on the plan and he said that, “Our plans will end the scandal of people being forced to sell their home to pay for their care. From 2015, everyone will be able to get a loan instead of having to sell their home while they are alive. I recognise that we can go further. We can enable people not to lose everything they have worked and saved for if they need care for several years.”
However all those who want to avail of the scheme need to wait a little bit as the government officials plan to introduce it in 2015.
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