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

Alberto Piscitelli ()
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Alberto Piscitelli: Sapienza University of Rome

A chapter in New Perspectives in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2025, pp 249-260 from Springer

Abstract: 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.

Keywords: Long Term Care; LTC risk; Silver economy; Pension fund; Severance pay scheme; Healthy life expectancy (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-05551-4_22

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DOI: 10.1007/978-3-032-05551-4_22

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