Consider again the earlier example. The VAR for a single loan is $2 million. The expected shortfall from a single loan when the time horizon is one year and the confidence level is 99% is, therefore, the expected loss on the loan, conditional on a loss greater than $2 million.
Long-term care is a range of services and supports you may need to meet your personal care needs. Most long-term care is not medical care, but rather assistance with the basic personal tasks of everyday life, sometimes called Activities of Daily Living (ADLs) , such as: 1  Bathing. 2  Dressing. 3  Using the toilet. 4  Transferring (to or from bed or chair).
How the Benefit Amount Related to the Cost of your Policy. Your long term care insurance premium will be directly related to benefit amount you choose. For example, a plan that pays up to $200 per day will be twice as much that only pays up to $100 per day.For this reason, many people will choose to co-insure their LTC costs i.e. they will choose a benefit amount lower than the average cost of care in their area.hen looking at an Long Term Care insurance policy, the first and most important decision to make is the daily benefit amount. In other words, how much you would like your policy to pay out to you in benefits at the time of claim.