If you care to pop over onto the BBC news website you’ll see a story about insurance companies, the cost of care and government funding for that care.
Originally, the government plan was that the insurance companies would introduce products to pay for the cost of care later in life so that the impact on someone’s estate would be limited along with the call on the Government spending pot.
Sounds reasonable enough, like a targeted form of life insurance.
But what has actually happened?
That’s right a big fat zero.
Now I know that so far, I’ve commented on the value of redundancy policies -v- generating multiple income streams but I’m thinking that the lack of action kind of backs up my overall view that the only people who tend to benefit from insurance policies are the policy providers and I have a tiny suspicion that the reason why none of these policies have been developed is that there is either little profit in it or few loopholes to be had.
Multiple income streams is the ONLY way as once you have your network marketing business or property empire set up if bad luck hits and you are unable to work you can always employ someone to manage things for you.