Long-term care insurance as part of addressing the financial needs of people in old age

This bachelor thesis addresses the issue of financing long-term care in the context of the aging population in the Czech Republic. The theoretical part focuses on demographic trends, the impact of aging on the pension and social system, and approaches to providing care for dependent persons in selected countries (Germany, Austria, Japan). It then analyzes the role of commercial long-term care insurance as a supplement to public support, with a special attention given to the„FLEXI Self-Sufficiency Insurance“ offered by the Kooperativa insurance company. The practical part of the thesis presents three model case studies to illustrate the consequences of lossing self-sufficiency for individuals and their families. A quantitative analysis compares the costs of care with and without commercial insurance and evaluates the financial return on insurance premiums. The findings suggest that commercial insurance can significantly enhance the financial stability of households, especially in situations involving sudden income loss or the need for residential care. The thesis emphasizes the importance of early financial planning and highlights the limitations of the current system, which is unsustainable in the long term without supplementary solutions. In conclusion, it recommends increasing awareness of long-term care insurance as a tool to mitigating the effects of demographic change.