A multi-state model for post-retirement long-term care for the risk of cognitive impairment

Abstract

We study the lifetime cost of cognitive impairment in post-retirement long-term care. The contribution of this thesis is to design a model for various levels of cognitive impairment in post-retirement period, using time-continuous Markov process, with focus on the actuarial present value of costs associated with the levels of cognitive impairment in the model.