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.
Why consider long term care insurance? Long term care can be expensive, and at least 70% of people over 65 will need long term care services and support at some point in their lives. 1 Having a plan for long term care can help you find practical and affordable ways to help pay the high costs of long term care services.