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Mortality Risk, Insurance, and the Value of Life

Bauer, Daniel - 2018

illness can significantly increase the value of statistical life, helping to reconcile theory with empirical findings that …

Persistent link: https://www.econbiz.de/10012480708

Estate Taxes, Life Insurance, and Small Business

Holtz-Eakin, Douglas - 1999

One criticism of the estate tax is that it prevents the owners of family businesses from passing their enterprises to their children. The problem is that it may be difficult to pay estate taxes without liquidating the business. A natural question is why individuals with such concerns do not...

Persistent link: https://www.econbiz.de/10012471424

Aggregate Savings in the Presence of Private and Social Insurance

Abel, Andrew B. - 1986

In the presence of uncertain lifetimes, social security has the characteristics of an annuity: a consumer pays a tax when young in exchange for receiving a social security benefit if he survives to be old. If consumers have identical ex ante mortality probabilities, then a fully funded social...

Persistent link: https://www.econbiz.de/10012477203

Life Cycle Annuity Valuation

Bernheim, B. Douglas - 1984

In this paper, we argue that actuarial valuation of annuity benefit streams is theoretically inconsistent with the assumption of pure lifecycle motives. Instead, we show that the simple discounted value of future benefits (ignoring the possibility of death) is often a good approximation to the...

Persistent link: https://www.econbiz.de/10012477575

The Impact of Annuity Insurance on Savings and Inequality

Kotlikoff, Laurence J. - 1984

This is the first paper to document the effect of health on the migration propensities of African Americans in the American past. Using both IPUMS and the Colored Troops Sample of the Civil War Union Army Data, I estimate the effects of literacy and health on the migration propensities of...

Persistent link: https://www.econbiz.de/10012477686

Life Insurance Savings and the After-Tax Life Insurance Rate of Return

Warshawsky, Mark - 1982

This paper presents a calculation of the time series of the after-tax rate of return to whole life insurancy. When compared to the after-tax return on an alternative portfolio of similar risk, more than 60%of the decline in life insurance savings (suitably defined) in the past two decades can be...

Persistent link: https://www.econbiz.de/10012478065

International Adverse Selection in Life Insurance and Annuities

McCarthy, David - 2003

This paper evaluates the extent of adverse selection in life insurance and annuities in international markets, for both group and individual products. We also compare results with prior analyses of adverse selection in international annuity markets, focusing on the US, the UK, and Japan. Our...

Persistent link: https://www.econbiz.de/10012468722

Price Elasticity of Demand for Term Life Insurance and Adverse Selection

Pauly, Mark V. - 2003

This paper provides an empirical estimate of price' and risk' elasticities of demand for term life insurance for those who purchase some insurance. It finds that the elasticity with respect to changes in premiums is generally higher than the elasticity with respect to changes in risk. It also...

Persistent link: https://www.econbiz.de/10012468772

An Empirical Examination of Information Barriers to Trade in Insurance

Cawley, John - 1996

This paper tests restrictions implied by the canonical theory of insurance under asymmetric information using ideal … life insurance. We report several findings which are hard to reconcile with the canonical theory. First, we find a striking …-linear pricing than predicted by theory: the theory predicts that prices rise with quantity, but we find that they fall. Third, we …

Persistent link: https://www.econbiz.de/10012473173

Information Spillovers, Margins, Scale and Scope : With an Application to Canadian Life Insurance

Bernstein, Jeffrey I. - 1992

This paper develops a model of the production of life insurance services. The focus is on price setting ability and the cost advantages from size and diversity. The model characterizes insurers decisions on the face value and number of policies and the number of insurance lines. The model is...

Persistent link: https://www.econbiz.de/10012475003

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