Unpaid care fees 'huge'
Added: (Tue Sep 25 2007)
This year, elderly parents are set to receive £21 billion in unpaid care from their grown up children, according to new findings from LV=.
Moreover, residential care homes which give nursing assistance can cost about £74,000, the organisation claimed, something that is often underestimated by the average adult.
Such a report, which is set to be launched at the Labour Party Conference, will outline the financial stress being placed on so-called midlife families, or those who have to support their children and their parents.
Group chief executive at LV= Mike Rodgers said that advice is needed for those in the relevant demographic.
"Caring for elderly relatives is a huge commitment and an increasing number of families are being pulled in both directions by the pressure to support generations, both above and below. We can expect the overall burden of paid and unpaid care to spiral," he commented.
He added that there is more pressure on financial providers to offer an adequate level of assistance.
In related news, the Liberal Democrat health spokesman Norman Lamb said that care homes need to do more in the attempt to tackle superbugs such as MRSA.
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