Impact of Gender and Age on Claim Rates of Dread Disease and Cancer Insurance Policies in Taiwan

Chu-Shiu Li, Chih-Jen Hung, Sheng-Chang Peng and Ya-Lee Ho
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Chu-Shiu Li: Department of Risk Management and Insurance, National Kaohsiung University of Science & Technology, Kaohsiung 824, Taiwan
Chih-Jen Hung: Ph.D. Program of Business, College of Business, Feng Chia University, Taichung 40724, Taiwan
Sheng-Chang Peng: Department of Risk Management and Insurance, Ming Chuan University, Taipei 111, Taiwan
Ya-Lee Ho: Department of Business Administration, Feng Chia University, Taichung 40724, Taiwan

IJERPH, 2021, vol. 19, issue 1, 1-14

Abstract: In this paper, the impact of both gender and age on the claim rates of dread disease and cancer insurance policies were examined using unique data taken from Taiwan’s private health insurance policies issued by non-life insurers during the 2012 to 2015 policy years. Those aged 30–39 served as the reference group. For the total number of dread disease policies, male insureds had a higher non-cancer claim probability than female insureds, while an age under 20 was associated with much lower claim rates for dread disease policies than for ages over 50. The claim rate for dread disease policies increased rapidly beginning at age 40 for both cancerous and non-cancerous diseases amongst male insureds. Amongst female insureds, those under 20 had much lower claim rates for dread disease policies. Only those aged 50–59 had a higher claim rate for non-cancerous diseases. For the total number of cancer insurance policies, male insureds had lower claim rates than female insureds, with an upward trend being associated with age. For male (female) insureds aged over 40 (20), the claim rates of cancer increased with age.

Keywords: non-life insurance; dread disease insurance; cancer insurance; claim rate; Taiwan (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2021
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