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How much risk is mitigated by LTC Insurance? A case study of the public system in Spain

Montserrat Guillen () and Adelina Comas-Herrera

No XREAP2011-07, Working Papers from Xarxa de Referència en Economia Aplicada (XREAP)

Abstract: 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.

Pages: 31 pages
Date: 2011-06, Revised 2011-06
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http://www.xreap.cat/RePEc/xrp/pdf/XREAP2011-07.pdf First version, 2011 (application/pdf)
http://www.xreap.cat/RePEc/xrp/pdf/XREAP2011-07.pdf Revised version, 2011 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:xrp:wpaper:xreap2011-07

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