NDLI: Actuarial Applications of a Statistical Model for Long-Term Care Insurance Operated with a Score-based Grading System: A Case Study of Korean Long-Term Care Insurance (K-LTCI)

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Actuarial Applications of a Statistical Model for Long-Term Care Insurance Operated with a Score-based Grading System: A Case Study of Korean Long-Term Care Insurance (K-LTCI)

Content Provider	Scilit
Author	Kwon, Hyuk-Sung Ko, Bangwon Kim, Ji-Hae
Copyright Year	2016
Description	Long-term care insurance plays a very important role as providing a protection against financial risk of an individual when he/she becomes in a health condition incurring significant costs for long-term care. Construction of an appropriate actuarial model for long-term care is an integral part of maintaining and improving a long-term care insurance system. A model is suggested for analyzing the impact of change in score-based long-term care grading system and for estimating future cost of long-term care insurance. A spliced distribution was used to model assigned scores for long-term care insurance in Korea based on experience data. The suggested approach is quite flexible, as it allows us to adapt to possible changes in the grading system.
Related Links	http://www.degruyter.com/downloadpdf/j/apjri.2016.10.issue-2/apjri-2015-0028/apjri-2015-0028.xml
Ending Page	243
Page Count	27
Starting Page	217
ISSN	17932157
e-ISSN	21533792
DOI	10.1515/apjri-2015-0028
Journal	Asia-Pacific Journal of Risk and Insurance
Issue Number	2
Volume Number	10
Language	English
Publisher	Walter de Gruyter GmbH
Publisher Date	2016-01-01
Access Restriction	Open
Subject Keyword	Asia-pacific Journal of Risk and Insurance Long-term Care Insurance Cost Projection Simulation Splicing Actuarial Model Journal: Asia-pacific Journal of Risk and Insurance, Vol- 10
Content Type	Text
Resource Type	Article

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