Long-term care insurance refers to insurance that pays fees and provides services to disabled people. It is called the "sixth insurance" in addition to the five social insurances of pension, medical care, work-related injury, unemployment and maternity.
By the end of 2023, China's elderly population aged 60 and above will reach 297 million, accounting for 21.1%. There will be about 44 million disabled or semi-disabled elderly people in China in 2022, and this will rise to 72.79 million in 2025.