PHILADELPHIA: One of the world’s largest insurers is to begin selling policies to help cover care costs for the sick and the elderly, although it stops short of the comprehensive cover ministers have called on the industry to develop.
Zurich Insurance is within months of launching the product, which will pay out to policy holders if they contract a medical condition such as Alzheimer’s that requires long-term care.
Ministers have been urging the financial services industry to sell long-term care insurance to reduce the burden of old age…