skip to main content

VALUATION OF LONG TERM CARE (LTC) HEALTH INSURANCE CONTRACT USING MULTISTATE MODEL


Citation Format:
Abstract

In this paper, we are using multistate model to evaluate Long Term Care (LTC) health insurance contract. Some products in LTC contract such as stand alone Annuity, LTC as a rider benefit, Enhanced pension and Insurance package are discussed. We use Discrete Time Markov Chains (DTMC) to model health status of each of the patients. Every time, a patient is exposed to one of the status that already set in the status space, for example: health, ill and death. We also consider evaluating premiums and reserves generated by this model which also useful for the practioneers and insurance companies.

 

Note: This article has supplementary file(s).

Fulltext View|Download |  Research Results
VALUATION OF LONG TERM CARE (LTC) HEALTH INSURANCE CONTRACT USING MULTISTATE MODEL
Subject
Type Research Results
  Download (62KB)    Indexing metadata

Last update:

No citation recorded.

Last update: 2024-11-21 06:20:58

No citation recorded.