Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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Development and Model Construction of Home Long-Term Care Insurance

Authors
Ying Xi1, *
1The Australia National University, Canberra, Australia
*Corresponding author. Email: ying.xi@anu.edu.au
Corresponding Author
Ying Xi
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_157How to use a DOI?
Keywords
Long-term care insurance; Markov chain; Generalized linear model; Net premium
Abstract

In today’s society, with the background of aging problem, while the old-age dependency ratio has been growing constantly, the demand for LTC is accordingly increasing gradually. This paper discusses the development of family joint LTC (Long-term care) insurance and constructs a state transition matrix including healthy, mild disability, severe disability and death based on the CLHLS China Elderly Health Influencing Factors Tracking Survey data. Besides, with the calculation of net premium of family joint care insurance products, the pricing model of family joint care insurance was constructed under the assumption that age difference affects joint care insurance. Then, the paper concludes that compared with single home care insurance products, family joint care insurance products have obvious advantages on their cost efficiency and promotion.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
978-94-6463-052-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_157How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Ying Xi
PY  - 2022
DA  - 2022/12/27
TI  - Development and Model Construction of Home Long-Term Care Insurance
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 1413
EP  - 1423
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_157
DO  - 10.2991/978-94-6463-052-7_157
ID  - Xi2022
ER  -