How much risk is mitigated by LTC Insurance? A case study of the public system in Spain
We present a methodology that allows to calculate the impact of a given Long-Term Care (LTC) insurance protection system on the risk of incurring extremely large individual lifetime costs. Our proposed methodology is illustrated with a case study. According to our risk measure, the current Spanish public LTC system mitigates individual risk by more than 30% compared to the situation where no public protection were available. We show that our method can be used to compare risk reduction of alternative LTC insurance plans.
|Date of creation:||Jun 2011|
|Date of revision:||Jun 2011|
|Contact details of provider:|| Postal: Fundació Bosch i Gimpera, C. Baldiri i Reixac, 4-8, 08028 Barcelona|
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