The cost of later life care – infographic

old people retirement

As the life expectancy of individuals increases, health conditions which affect people later in life such as Dementia are becoming more common.

Statistics show that currently 1 in 14 people in the UK who are over 65 are affected by dementia, with 1 in 6 of those being over 80.

These numbers are expected to continue increasing, and by 2015 the number of people affected by Dementia is predicted to be around 2,000,000 – a huge increase compared to the 850,000 today.

Because of these numbers escalating, the need for care is increasing rapidly, which comes at a cost. The infographic created by Vitality Life highlights the frequency of later life illnesses and the costs of care itself – whether it be home care or residency.

The increasing cost of later life care is one reason to consider taking out life insurance. For more information read our life insurance buying guide, and use our life insurance calculator to estimate your potential premium costs.

Infographic produced by VitalityLife:

Need for later life care

cost of later life care

Stats breakdown

6.5 million people in the UK are currently caring for family members and other loved ones

78% of older people receive some form of care from a spouse or other household member

2 years is the average length of stay in residential care

10% of residents stay for an average of 8 years in residential care

31% of people over 65 live alone

59% of those that live alone are over 85 – with the majority being women

850,000 people in the UK are estimated to be suffering from Dementia

773,502 of those are aged 65 are over

By 2051 it is estimated that 2 million people in the UK will suffer some form of dementia

1 in 14 people over 65 in the UK are affected by Dementia

1 in 6 of those aged over 80 are affected by Dementia