- In Germany, besides mandated and supplemental health insurance products, the life insurance industry has also developed Long Term Care insurance products. The annuity model has become prevalent, just as in other European life insurance markets. Private LTC insurance premium depends solely on the issue age (in particular, it cannot depend on gender) and is capped at the maximum public insurance premium.
- In Spain, several products and benefit types have emerged; benefits may take the form of a lump sum and/or temporary or lifetime income. Nevertheless, and despite the efforts made, penetration of this insurance is low (less than 2.5 million covered).
- In the United Kingdom, the products offered are varied and innovative: in addition to pure risk contracts (which often take the form of single-premium annuity contracts), in many cases long term care insurance is backed by a savings product that requires a significant capital contribution. In addition, some contracts provide against the risk of dependency longevity: these contracts have the particularity to cover the already-dependent person who pays a single premium to an insurer in order to have a life annuity (Immediate Care Plans). In the case of Immediate Care Plans, the beneficiary receives a fixed monthly sum until the end of his care, and in the case of plans based on a property, Release Equity Plan (Reverse Mortgage in the US), the beneficiary receives a loan on the property, possibly the loan being repaid after death.
Beyond public support
A limited role for private insurance so far
Créé le
02.11.2016-
Mis à jour le
09.11.2016
