Estimation of Life Insurance Asset Value From Household Survey

Ting Zeng and Qian Cao ()
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Qian Cao: Research Institute of Economics and Management, Southwestern University of Finance and Economics, China

Asian Economics Letters, 2022, vol. 3, issue 1, 1-6

Abstract: The omission of the asset value of life insurance policies in computing household assets would underestimate household wealth and therefore bias measures of wealth inequality. We propose a method to estimate the cash value of household life insurance assets by combining the Lee-Carter model, which forecasts mortality risk, and the concept of the net level premium reserve in actuarial science. This method is readily applicable using household survey data.

Keywords: life insurance asset value; Net level premium reserve; Mortality estimation; Household wealth inequality (search for similar items in EconPapers)
JEL-codes: D31 G22 N3 (search for similar items in EconPapers)
Date: 2022
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