Demand for Long-Term Care Insurance in China

Demand for Long-Term Care Insurance in China

The aim of this study was to estimate willingness to pay (WTP) for long-term care insurance (LTCI) and to explore the determinants of demand for LTCI in China. We collected data from a household survey conducted in Qinghai and Zhejiang on a sample of 1842 households. We relied on contingent valuation methods to elicit the demand for LTCI and random effects logistic regression to analyze the fac...

Long term care insurance.

Long term care is a relatively new employee benefit issue and was virtually unheard of two years ago. Long term care plans have been implemented in a handful of companies and government retirement systems. Long term care has become an employee benefits issue because of the growing awareness of the risks of long term care to the elderly and the costs of long term care. Long term care benefit pla...

Pricing Long-Term Care Insurance for Long-Term Profitability

The LTCI market is evolving, and only a small percentage of the potential market has been penetrated. According to the 2000 Insurance Fact Book, published by the American Council of Life Insurers, less than 10 percent of the U.S. population over age 65 has purchased private LTCI. The increasing need for this product improves the prospects for additional tax relief for LTCI purchases, further en...

Aiming Higher: Advancing Public Social Insurance for Long-term Care to Meet the Global Aging Challenge; Comment on “Financing Long-term Care: Lessons From Japan”

Globally, aging populations are driving the demand for long-term care (LTC) services for a growing number of older people with disabilities or chronic illnesses. A key challenge for policy-makers in all countries is to find a comprehensive solution to financing LTC services to make them widely accessible, affordable, and equitable for all in need. In this commentary, we...

The case for long-term care insurance.