We estimate the benefit of life-extending medical treatments to life insurance companies. Our main insight is that life insurance companies have a direct benefit from such treatments as they lower the insurer's liabilities by pushing the death benefit further into the future and raise future...

We use a two factor model of life insurer stock returns to measure interest rate risk at U.S. and U.K. insurers. Our estimates show that interest rate risk among U.S. life insurers increased as interest rates decreased to historically low levels in recent years. For life insurers in the U.K., in...

International courts often apply the social justice standard of Aristotelian equality - treating like people alike and unlike people differently - to cases involving insurance pricing discrimination. This article examines whether the use of insurance pricing variables like gender and race...

A tontine provides a mortality driven, age-increasing payout structure through the pooling of mortality. Because a tontine does not entail any guarantees, the payout structure of a tontine is determined by the pooling of individual characteristics of tontinists. Therefore, the surrender decision...

The purpose of this paper is to measure the effects of age, education, income, and gender on life insurance in Iran. Logit model is used to estimate a random sample of 217 observations. The result show that age is a positive effect on demand for life insurance, but it is nonlinear. So that from...

Background: This paper examines the implicit healthy life expectancy (HLE) used for actuarial calculations in some selected biometric data sets from Australia, China, Portugal, Spain and the US. We are interested in checking the demographic and epidemiological coherence of these data sets...

The profitability of life insurance offerings is contingent on accurate projections and pricing of mortality risk. The COVID-19 pandemic created significant uncertainty, with dire mortality predictions from early forecasts resulting in widespread government intervention and greater individual...

Advantageous (or propitious) selection occurs when an increase in the premium of an insurance contract induces high-cost agents to quit, thereby reducing the average cost among remaining buyers. Hemenway (1990) and many subsequent contributions motivate its advent by differences in risk-aversion...

Advantageous (or propitious) selection occurs when an increase in the premium of an insurance contract induces high-cost agents to quit, thereby reducing the average cost among remaining buyers. Hemenway (1990) and many subsequent contributions motivate its advent by differences in risk-aversion...

Superstition is prevalent in rural areas, yet very few studies examine whether it affects rural households’ economic decisions. In this paper, we investigate the impact of “zodiac year” superstition on Chinese rural households’ life insurance spending. We find a statistically significant...