In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...

In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...

We use data from a large US life expectancy provider to test for asymmetric information in the secondary life insurance-or life settlements-market. We compare realized lifetimes for a subsample of settled policies relative to all (settled and nonsettled) policies, and find a positive...

This paper used Reiterative Truncated Projected Least Squares (RTPLS) to estimate the effects on life expectancy of an additional dollar of insurance premiums for 43 countries. The data shows a clear positive relationship between insurance and life expectancy with insurance premiums increasing...

We document relevant racial differences in the degree consumption insurance against shocks: Blacks appear to be less insured. We probe these results by performing a double/debiased lasso estimation of the treatment effects of a health shock, and we find that such effects are both larger and more...