According to specialist insurer Partnership 96 per cent of over-65s have made no financial plans to pay for care while 73 per cent have not spoken to their families or thought about the subject. This is despite family’s involvement in arranging care: 20 per cent of 45 to 50 year olds and 21 per cent of 51 to 55 year olds say they expect to find a care home for their parents or in-laws.

Partnership’s findings come just days after the Chartered Institute of Personnel and Development and SImplyhealth found that one in three employers were having to give their workers time off to care for elderly or disabled relatives.

The research also found a lack of awareness around financial products which can be used to finance long-term care. Some 77 per cent of over-65s were unaware of care annuities, for example, as were 76 per cent of adult children between 45 and 55.

Thomas Kenny, head of technical pricing, said: “Care is very much on the agenda at the moment but this research highlights that not only have most people into made any plans or spoken to their families, they don’t know what their options are when it comes to paying for care. This is likely to be due to the fact that very few people want to consider the possibility of needing long-term care later in life. Taking to time to consider your options now will pay off in the long run.”