Sales of long-term care insurance have grown by just over 75% in the last four years and by 35% alone in 2025.
The Financial Conduct Authority (FCA) figures show that, although it remains a very small market, there is potential for growth in long-term care insurance.
Last year 1,138 long-term care insurance plans were sold according to the FCA – up 35% alone from the 846 in 2024.
A similar size jump took place in 2023 when 872 policies were sold, up from 645 in 2022.
Overall, the 2025 sales total of 1,138 is 75.8% or 491 more than the 647 sold in 2021, illustrating the continued medium-term growth in the market.
Insurance solutions to national goal
Fixing the “broken” social care system has become a key plank of prime minister Andy Burnham’s strategy.
Since taking office last month, Burnham has repeatedly committed to turning around the UK’s social care system, with the opening of Baroness Casey’s national consultation the latest move.
Earlier this month, Health & Protection explored how the insurance industry could potentially support this national goal and what creative solutions were available in other nations.
Meanwhile, Johnny Timpson suggested income protection product innovation could help tackle these issues besetting social care in England.
However, the issue is a long-term one and requires certainty and cost transparency as St James’s Place divisional director Tony Müdd highlighted in 2023, during the previous Conservative government.
