The quarterly Aviva Real Retirement report looked at long-term care this quarter in light of the recent Dilnot Commission.

Those who were willing to pay suggested paying only £3,610, despite estimating that care in a retirement home would cost £30,071 per year.

A further 62 per cent said they should not be forced to sell their house to pay for their care and over half would prefer to remain in their house rather than a care home.

Despite these worries, less than half of respondents had a plan in place to meet costs.

Confusion reigned among the best sources for information with  47 per cent saying they needed clearer information and 36 per cent said one Government department should be responsible for all care issues.

Clive Bolton, at retirement director for Aviva, said: “This issue is made particularly challenging by the fact that the actual cost of care is only determined when it is needed rather than when it is planned for.

“However, the proposals in the Dilnot Review mean going forward there is a potential for much greater clarity around costs and thus it will be easier for consumers and companies to plan for the future.”

The Dilnot Review proposed that an individual’s contributions to care costs be capped at £35,000. After that amount the Government should fund any further care costs, said the review report.