Financial industry views on the prospective role of long-term care insurance and reverse mortgages in financing long-term care in Croatia (CROSBI ID 273877)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Bađun, Marijana ; Krišto, Jakša
engleski
Financial industry views on the prospective role of long-term care insurance and reverse mortgages in financing long-term care in Croatia
Due to the government’s modest role in taking care of aging adults, as well as a rapidly aging demographic and a high share of home ownership, Croatia is an interesting case for private long- term care (LTC) financing. This study uses a qualitative survey through interviews (N = 21) with specialists from the financial industry to examine the prospects for developing LTC insurance (LTCI) and reverse mortgages. The most important obstacles to developing reverse mortgages and LTCI are an emotional attachment to real estate and strong family ties. However, inadequately regulated and non-transparent housing and LTC markets, the weak rule of law, poor financial literacy, low trust in financial institutions, and the perception of government as the savior of last resort pose additional challenges. Combined insurance products with clearly defined benefits are the products showing the most market potential.
long-term care ; long-term care insurance ; reverse mortgage ; aging ; Croatia
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Podaci o izdanju
33 (6)
2021.
673-691
objavljeno
0895-9420
1545-0821
10.1080/08959420.2020.1750541