Population ageing and wellbeing: lessons from Japan's long-term care insurance policy

The Lancet ◽  
2011 ◽  
Vol 378 (9797) ◽  
pp. 1183-1192 ◽  
Author(s):  
Nanako Tamiya ◽  
Haruko Noguchi ◽  
Akihiro Nishi ◽  
Michael R Reich ◽  
Naoki Ikegami ◽  
...  
2018 ◽  
Vol 77 (2) ◽  
pp. 187-195 ◽  
Author(s):  
Brian E. McGarry ◽  
David C. Grabowski

Given the rising cost of long-term care (LTC) services, the selection of a private long-term care insurance (LTCi) policy with inflation protection has critical implications for the ability of this coverage to protect against potentially catastrophic LTC expenses. This study examines the effect of consumers’ numeric abilities on the decision to add inflation protection to private LTCi policies. Over 40% of current LTCi policies lack inflation protection. Higher scores on a three-question numeracy scale are associated with increases in the probability of choosing inflation protection at the time of policy purchase, with households answering all three questions correctly being 12 percentage points more likely to have this benefit type relative to those with a numeracy score of 0 ( p = .002). Market reforms that simplify the task of evaluating LTCi plans and assessing the value of indexed benefits may be needed to ensure that LTCi policy purchasers are selecting adequate protection against future LTC costs.


2013 ◽  
Vol 23 (2) ◽  
pp. 132-144 ◽  
Author(s):  
Nam-Kyung Han ◽  
Woojin Chung ◽  
Roeul Kim ◽  
Seungji Lim ◽  
Chong-Yon Park

Author(s):  
Nurin Amni Arshad ◽  
Mazlynda Md Yusuf

Due to the trends of the increase in life expectancies and decrement in fertility rates, the world population is moving towards becoming an ageing nation. With the rise in the number of older people, the demand for long-term care services is expected to increase. Long-term care services are ubiquitous in the developed country, especially in the European region as the countries have become the aged nations. Apart from that, the cost for long-term care services differs for individuals based on the level of needs and the service provider, either public or private nursing home for long-term care. Due to the growing cost of long-term care services, a long-term care insurance policy may be seen as an alternative to covering the cost of long-term care services because the risk is mitigated for individuals. However, most Asian countries are not familiar with the long-term care insurance policy as there is no specific insurance policy for long-term care services offered yet in these countries. The essential factor in constructing a long-term care insurance policy is to identify the risks that are insurable to be included in the policy to be used later for pricing long-term care insurance policy in Malaysia. This study provides an in-depth review and understanding of the insurable risks associated with long term care insurance in European and Asian countries.


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