Two thirds (67%) of UK adults are worried about how they will pay for care in later life, while 63% fear they may run out of money altogether, according to LV= research.
Good health, staying independent and financial security were top priorities for almost all respondents.
92% also said that being able to stay in their own home mattered to them.
Lifetime mortgages could help people unlock money from their homes to pay for things like care costs or home adaptations, without needing to move, according to LV=.
The research showed 78% of adults said adapting their home was important if their health declines, but over half were concerned about how they would pay for any necessary changes.
Georgina Oxton, equity release divisional sales manager at LV=, said: “With rising costs and increased pressures on public health services, it’s no surprise many people are feeling anxious about how they’ll manage in retirement.
“LV= Lifetime Mortgages can offer a practical way for people to access the value in their home to fund care, improve quality of life and offer peace of mind, all without needing to sacrifice the things that are important to them.
“Furthermore, LV= is a trusted mutual brand, and LV= Lifetime Mortgages offer valuable services for later life care through LV= Doctor Services and Care Navigator.”
Oxton added: “LV= Doctor Services provides 24/7 remote GP consultations and access to medical specialists for second opinions, while Care Navigator connects clients with experienced nurses who offer compassionate support and guidance in navigating the adult social care system.
“With a rising number of people facing uncertainty about accessing care in later-life, it’s clear that proactive financial planning is of paramount importance.”
