This paper presents a model to determine the change in probability of payoff of an uninsured motorist's benefit when an additional vehicle is added to an existing automobile insurance policy. The hypothesis to be tested is that there is no increase in this probability and that, therefore, any...

In the 1970s there was a sharp rise in whole-life insurance policy voluntary termination rates. This paper argues that the rise of the lapse rate can be attributed to a fundamental shift in consumer insurance buying habits. Specifically, it is argued that whole-life insurance policies have been...