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.
Longâterm care refers to a wide range of medical, personal and social services. You may need this type of care if you have a prolonged illness or disability. This care may include help with daily activities, as well as home health care, adult daycare, nursing home care or care in a group living facility. Longâterm care insurance is one way to pay for longâterm care. It is designed to cover all or some of the services provided by longâterm care.