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Addressing Long-Term Care Risk Through Pension-Linked Insurance in the Italian Context: A Stochastic Approach Using Severance Pay Scheme

In: New Perspectives in Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

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  • Alberto Piscitelli

    (Sapienza University of Rome)

Abstract

This paper addresses the growing challenge of long-term care (LTC) dependency in aging populations by proposing the integration of LTC insurance with pension funds through the allocation of severance pay. A stochastic model is introduced to evaluate the financial sustainability and effectiveness of this approach, using Monte Carlo simulations to analyse the trade-offs between pension income and LTC benefits. The findings emphasize the need for welfare reforms and improved health and financial literacy to ensure broader adoption of LTC solutions, contributing to a more sustainable and equitable management of aging-related risks.

Suggested Citation

  • Alberto Piscitelli, 2025. "Addressing Long-Term Care Risk Through Pension-Linked Insurance in the Italian Context: A Stochastic Approach Using Severance Pay Scheme," Springer Books, in: Michele La Rocca & Massimiliano Menzietti & Cira Perna & Marilena Sibillo (ed.), New Perspectives in Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 249-260, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-05551-4_22
    DOI: 10.1007/978-3-032-05551-4_22
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