Shubhagata Roy
The study discusses the growing need for long-term care for older adults, as they face challenges in managing their day-to-day activities due to chronic health issues. Family members have traditionally been the primary caregivers for the elderly, but the migration of younger population to other places and countries in search of a better life has led to a major shortage of manpower and funds for long-term care. To address this issue, some of the advanced countries have introduced a new insurance product called Long Term Care Insurance (LTCI), which is different from traditional health insurance policies. LTCI is designed to cover long-term services and supports, including personal and custodial care in various settings, such as a person's home, community organization, or other facility. India too is experiencing similar demographic changes since the last few decades, it is reasonable to consider such kind of innovative products for the older adults.