One-sided commitment in life insurance contracts: Evidence from Health and Retirement Study

Xi Wu and Li Gan

Economics Letters, 2022, vol. 219, issue C

Abstract: We study the properties of long-term insurance contracts using an individual-level survey data. Results indicate longer-term contracts are involved with lower lapse rates and healthier pool. These are consistent with the implications of Hendel and Lizzeri model with one-sided commitment.

Keywords: Life insurance; One-sided commitment (search for similar items in EconPapers)
JEL-codes: D86 G22 I1 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:219:y:2022:i:c:s0165176522003081

DOI: 10.1016/j.econlet.2022.110825

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