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).
Glossary of Insurance Terms. Long-Term Care is a term that is used to describe an array of services that are available to people with prolonged illnesses, disabilities or cognitive disorders.LTC services include health, medical, personal care, and social services, as described below. final word on LTC: The decision to purchase Long-Term Care insurance is a big one with definite financial consequences, both in terms of premiums and future personal care. These types of decisions should not be made without consulting the most important people in your life-such as your family.