Life Insurance Industry’s Efforts towards protecting Insurance Policyholders
نویسندگان
چکیده
منابع مشابه
Life Insurance and Life Settlement Markets with Overconfident Policyholders
We analyze how the life settlement market – the secondary market for life insurance – may affect consumer welfare in a dynamic equilibrium model of life insurance with one-sided commitment and overconfident policyholders. As in Daily et al. (2008) and Fang and Kung (2010), policyholders may lapse their life insurance policies when they lose their bequest motives; but in our model the policyhold...
متن کاملThe effect of policyholders' rationality on unit-linked life insurance contracts with surrender guarantees
We study the valuation of unit-linked life insurance contracts with surrender guarantees. Instead of solving an optimal stopping problem, we propose a more realistic approach accounting for policyholders’ rationality in exercising their surrender option. The valuation is conducted at the portfolio level by assuming the surrender intensity to be bounded from below and from above. The lower bound...
متن کامل“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولWhy Do Life Insurance Policyholders Lapse? The Roles of Income, Health and Bequest Motive Shocks∗
We present and empirically implement a dynamic discrete choice model of life insurance decisions to assess the importance of various factors in explaining life insurance lapsation. In order to explain some key features in the data, our model incorporates multiple dimensions of serially correlated unobservable state variables which we deal with using posterior distributions of the unobservables ...
متن کاملHanming Fang and Edward Kung “ Why Do Life Insurance Policyholders Lapse ?
Previous research has shown that the reasons for lapsation have important implications regarding the effects of the emerging life settlement market on consumer welfare. We present and empirically implement a dynamic discrete choice model of life insurance decisions to assess the importance of various factors in explaining life insurance lapsations. In order to explain some key features in the d...
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ژورنال
عنوان ژورنال: Hokengakuzasshi (JOURNAL of INSURANCE SCIENCE)
سال: 2017
ISSN: 0387-2939,2185-5064
DOI: 10.5609/jsis.2017.636_53