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Long-Term Care Insurance and Life Insurance Demand

Author

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  • Volker Meier

    (Department of Economics, University of Halle, Gr. Steinstr. 73, D-06099 Halle (Saale), Germany.)

Abstract

This article investigates the interaction between life insurance and long-term care insurance markets on the demand side. In the model utility depends on both consumption and bequest, and utility from consumption is contingent on the state of health. While the demand for life insurance increases both with decreasing income and with a rising degree of altruism, the influences of these two parameters on the demand for long-term care insurance are ambiguous. If the utility shock arising from disability declines, both insurance demands will rise. The Geneva Papers on Risk and Insurance Theory (1998) 23, 49–61. doi:10.1023/A:1008630030725

Suggested Citation

  • Volker Meier, 1998. "Long-Term Care Insurance and Life Insurance Demand," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 23(1), pages 49-61, June.
    • Handle: RePEc:pal:genrir:v:23:y:1998:i:1:p:49-61
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    Cited by:

    1. Maximilien Nayaradou & Sébastien Nouet & Manuel Plisson, 2016. "Les mécanismes économiques et financiers associés à la couverture dépendance : une analyse exploratoire sur données bancaires," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 273-326.
    2. repec:dau:papers:123456789/5054 is not listed on IDEAS
    3. Ning Wang, 2019. "The demand for life insurance in a heterogeneous-agent life cycle economy with joint decisions," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(2), pages 176-206, September.
    4. Emily Norman Zietz, 2003. "An Examination of the Demand for Life Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 6(2), pages 159-191, September.
    5. Plisson, Manuel, 2009. "Assurabilité et développement de l'assurance dépendance," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/5064 edited by Lorenzi, Jean-Hervé.
    6. Martin Eling & Omid Ghavibazoo, 2019. "Research on long-term care insurance: status quo and directions for future research," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(2), pages 303-356, April.
    7. Tatjana Atanasova-Pachemska & Sase Lozanov & Limonka Lazarova, 2016. "Comparing Of Deposit Model And Life Insurance Model In Macedonia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 76-81, February.
    8. Cong Tam Trinh & Minh-Tri Ha & Nhut Quang Ho & Tho Alang, 2023. "National culture, public health spending and life insurance consumption: an international comparison," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.
    9. Lambregts, Timo R. & Schut, Frederik T., 2020. "Displaced, disliked and misunderstood: A systematic review of the reasons for low uptake of long-term care insurance and life annuities," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).

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