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Dependency insurance: protecting personal autonomy

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Long-term care insurance guarantees compensation in the form of income, capital or the provision of a service.

Could you define what a “state of dependence” means? The Council of Europe did so in 1998: “Dependence is the need for significant help or assistance in carrying out normal day-to-day activities or, more precisely, the state in which people find themselves when, due to the lack or loss of physical, psychological or intellectual autonomy, require significant assistance or help in carrying out their usual day-to-day activities ”.

It not only applies to the elderly

While reading this definition, it is possible that many images have crossed your mind. And it’s likely that all of them are capable of causing considerable concern. This is normal and, moreover, more and more common: the increase in life expectancy is causing a notable increase in dependent people. However, bear in mind that dependence is not always age-related: this situation can be caused by illness and other causes of disability or restricted movement.

Supplementary help

What happens now? How do you cope with the day-to-day challenges? What financial aid can is a dependent person entited to? In 2006, the Dependency Law was created in Spain to provide financial aid or assistance. However, sometimes this is not enough; the crisis and other factors reduced this aid to the point of making it insufficient and even non-existent. Faced with this situation, dependency insurance came about.

Three factors

This type of insurance guarantees compensation in the form of income, capital or the provision of a service provided that the insured party is in a dependent situation; in other words, when three factors concur: physical, psychological or intellectual limitation; inability to carry out daily tasks by oneself; and, finally, the need to have the assistance of a third person.

From telecare to training for caregivers

In addition to being able to rely on an income or capital amount, the provision of services that these insurance policies usually include refers, for example, to the costs of staying in a residential center; home help services; telecare for people living alone; training for caregivers, etc.

Dependency insurance allows for the design of policies that can be adapted to the particular situation of each dependent person. Beyond the difficulties and daily challenges that these people have to face, the sector works to ensure their quality of life, the care they need, and their dignity and well-being.

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