Hello, With regards to the flashcard above, how can LTCI be structured as a short-term business? Isn't LTCI long-term by definition? Thanks, Regards, Phani
Hi Phani The 'long-term' in LTCI refers to care being required in the long-term, rather than saying anything about the type of insurance business. It would be possible to design a product which was annually reviewable, although no product like that exists currently in the UK. There are examples from other countries (eg USA) of short-term benefits on care products, for example just paying for the first 1-2 years of care. Hope this helps. Sarah
