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Inclusive health and life insurance adoption: An empirical study in Guatemala

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  • Maria Jose Roa
  • Sonia Di Giannatale
  • Jonathan Barboza
  • Juliana Gamboa Arbelaez

Abstract

In this paper, we analyze the decision to buy inclusive health and life insurance in Guatemala within a theoretical framework driven by new personality and cognition theories combined with traditional insurance theory. We designed and conducted a survey of samples of both non‐insured individuals and clients of Seguros Universales, one of the principal inclusive insurance providers in Guatemala. Our results show that personality traits and time preferences are strongly associated with an individual's decision to hold an insurance contract. We also find evidence that certain combinations related to health habits and personality traits can have an impact on such a decision.

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  • Maria Jose Roa & Sonia Di Giannatale & Jonathan Barboza & Juliana Gamboa Arbelaez, 2021. "Inclusive health and life insurance adoption: An empirical study in Guatemala," Review of Development Economics, Wiley Blackwell, vol. 25(2), pages 1053-1077, May.
    • Handle: RePEc:bla:rdevec:v:25:y:2021:i:2:p:1053-1077
    DOI: 10.1111/rode.12751
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    Cited by:

    1. Maria Jose Roa & Sonia Di Giannatale & Alejandra Villegas & Jonathan Barboza, 2023. "Are women more financially vulnerable than men? A tale of missed economic opportunities from Latin America," Development Policy Review, Overseas Development Institute, vol. 41(6), November.
    2. Daniela Fernanda Diaz & Sonia Di Giannatale & Irvin Rojas, 2023. "Financial Vulnerability and Financial Instruments: Evidence from Mexico," Sobre México. Revista de Economía, Sobre México. Temas en economía, vol. 1(8), pages 94-134.
    3. Wookjae Heo & Eun Jin Kwak & John Grable & Hye Jun Park, 2024. "Ownership of Cash Value Life Insurance among Rural Households: Utilization of Machine Learning Algorithms to Find Predictors," Mathematics, MDPI, vol. 12(16), pages 1-27, August.

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