So, it would be a bit unfair to compare $VaR_\alpha$ estimated in 80s with what is going on right now. $VaR_\alpha$ assumes that the distribution of returns is normal. Not most beautiful assumption but the most straightforward to compute $VaR_\alpha$.
How often is it covered? Long-term care is a range of services and support for your personal care needs. Most long-term care isn't medical care, but rather help with basic personal tasks of everyday life, sometimes called activities of daily living. Medicare doesnât cover long-term care (also called custodial care), if that's the only care you need. Most nursing home care is custodial care.
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.