A multiple state model projection on the needs of a proposed long term care insurance in the Philippines

• Main Authors: Geonzon, Saela Mel M., Go, Tiffany May V.
• Format: text
• Language: English
• Published: Animo Repository 2009
• Subjects: Older people > Long-term care > Philippines; Long-term care insurance > Philippines; Statistics and Probability
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/5218
• Institution: De La Salle University

The elderly population of the Philippines is expected to increase in future years, which according to Ogena [18], will behave in a low and slow manner. The researchers suggest Long-Term Care Insurance of developed countries as a solution to one of the problems this event might cause: financial assistance for the elderly. The researchers applied the projection methodology used by Leung [15] and Rickayzen and Walsh [26] to the data 1996 Philippine Elderly Survey data under the assumption of the Multiple State Model. This allowed for the initial data to be projected forward in time with application of the transition rates. Results show that instead of a constant increase in all projections, there are some decreases in number.