Arbeitspapier
Life Insurance, Precautionary Saving and Contingent Bequest
Purchasing life insurance is for the welfare of young children, par-ticularly preteens, who are liquidity constrained. In this paper, we present a life cycle model of life insurance that takes into account the ages of these young beneciaries. We show that, as the child ages, the need for protection is reduced and, consequently, the size of contingent bequest may shrink. The demand for life insurance is positively related to the number, age differentials, living standards, and the time needed to reach adulthood. Also, the breadwinner's life-time uncertainty and the unfairness of the insurance market encourage precautionary saving.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 444
- Klassifikation
-
Wirtschaft
- Thema
-
Loading factor
birth order
actuarial rate of interest
and the age of independence
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chang, Fwu-Ranq
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Chang, Fwu-Ranq
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2001
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