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).
Long-term care insurance (LTCI) generally pays a specific dollar amount per day for a set period of time for whatever type of long-term care is outlined in the policy.For example: 1  Most of the policy benefits are triggered by physical or mental impairments designated in the policy.hy you need to be prepared for long-term health care. If you ever need long-term care, Medicaid covers only some of its costs. HMOs, Medicare and Medigap will not cover every health care expense either. As a result, out-of-pocket costs for long-term care could significantly impact your life savings.