What is long-term insurance?

The full name of insurance is long-term care insurance, which is a social insurance system that provides nursing services for people who have lost their ability of daily living due to old age, illness or disability.

Long-term care insurance mainly covers insured persons who have participated in basic medical insurance and are in a state of disability for a long time, including insured workers and retirees who are disabled due to old age, illness and disability. The coverage of long-term care insurance mainly includes long-term care service, home care service, medical institution care and community care service caused by daily life obstacles.

The sources of funds for long-term insurance are mainly raised by individuals, employers and the government.