Czechia is aging rapidly, driving up the demand for social assistance. Currently, the country has 2.37 million pensioners, a number projected to rise to 3.05 million by 2050.
The number of disabled pensioners has already reached 212,500 and continues to grow, with a peak expected in 2037 (10% higher than current levels).
Experts emphasize the need to increase spending on care for the elderly and sick. Expenses for care allowances are expected to triple over the next 50 years. However, state support does not cover all costs, especially for those aiming to maintain their standard of living.
People are offered two options: build personal savings or opt for insurance. Life insurance and long-term care policies cover income loss, housing adaptations, medical equipment, and services.
Private insurance is becoming a key tool for securing care. Contributions to long-term care insurance can be partially tax-deductible, and employers can support employees by arranging such policies for them. In this way, private investments in insurance products will complement state aid and help address the challenges of an aging population.
