If in the past, in fact, it was the family that took care, economically and not only, of non self-sufficient people, today, with youth unemployment on the alarming increase and with the substantial lengthening of the average life (according to Istat, the Italian population will composed of 33% of over 65s in 2030), a configuration of this kind is not always possible.
Long Term Care assures the customer of the policy an annual allowance or an assistance service. The policy is not activated only when non-self-sufficiency is linked to an accident or illness, but also when it is simply due to old age.
The main insurance groups offer two types of LTC policies, the ad accumulation and that pay-as-you-go. In the first case it is possible to accumulate a little treasure over the years, from which the company can draw to pay a one-off capital or a pre-established sum for the entire period in which the condition of non-self-sufficiency occurs. In this case the annuity, usually between 500 and 3.000 euros per month, will depend on the amount paid by the customer over the years.
Pay-as-you-go policies, on the other hand, provide for an annual premium that will cover any non-self-sufficiency in that year. In this case, the company will bear all social welfare expenses up to a maximum monthly amount, for the entire period in which it will be necessary. It is best for the client to choose an inflation-indexed hedge.
