Economics at your fingertips  

Don't They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long‐Term Care Insurance

Tian Zhou‐Richter, Mark J. Browne and Helmut Gründl

Journal of Risk & Insurance, 2010, vol. 77, issue 4, 715-747

Abstract: The potential need for long‐term care (LTC) is one of the greatest financial risks faced not only by the elderly but also by their adult children, who often provide care or financial assistance. We investigate adult children's role in the demand for LTC insurance. Similar to flood insurance, we find that demand for LTC insurance is low due to low risk perception. The more aware adult children are of the risk, the more likely LTC insurance is to be purchased, either by the children themselves on behalf of their parents or by the parents under the influence of their children.

Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24) Track citations by RSS feed

Downloads: (external link)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from

Access Statistics for this article

Journal of Risk & Insurance is currently edited by Keith Crocker

More articles in Journal of Risk & Insurance from The American Risk and Insurance Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

Page updated 2019-08-08
Handle: RePEc:bla:jrinsu:v:77:y:2010:i:4:p:715-747