Protective Behavior and Life Insurance

Abigail Hurwitz, Olivia Mitchell and Orly Sade

No 32102, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We study life insurance market responses to Covid-19 using unique national administrative data from Israel on purchases and cancellations of life insurance policies, and an internet survey of Americans’ life insurance choices, risk attitudes, Covid-19 perceptions, and vaccination behavior. We see no evidence that life insurance purchases or cancellations were consistent with adverse selection during the pandemic, while we do find advantageous selection. Moreover, life insurance policyholders were more likely to get vaccinated, thus taking ex-post preventive action reducing their pandemic risk. Such positive reactive behavior has not been previously reported in the life insurance setting.

JEL-codes: D14 E21 G51 G52 (search for similar items in EconPapers)
Date: 2024-02
New Economics Papers: this item is included in nep-dem and nep-hea
Note: AG EH
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