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Multi-State Actuarial Models of Functional Disability

Elderly care

Joelle H. Fong, Adam W. Shao and Michael Sherris

We apply generalized linear models to evaluate disability transitions for individuals in old age based on a large sample of U.S. elderly. We estimate a multi-state model for long-term care insurance applications, and find significant differences in disability rate patterns and levels from the commonly-used Robinson (1996) model.

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