Are the risks in LTC insurance different from the risks in hospital insurance?

Yes, the risks in long-term care (LTC) insurance differ from those in hospital insurance. LTC insurance primarily addresses the costs associated with extended care services, such as nursing homes or in-home care, which are often influenced by factors like aging and chronic health conditions. In contrast, hospital insurance typically covers acute medical events and hospital stays, focusing on short-term care. Consequently, LTC insurance involves longer duration risks and higher uncertainties regarding the duration of care, while hospital insurance is more concerned with the frequency and severity of acute medical incidents.