Determinants of Demand for Private Long-Term Care Insurance (Empirical Evidence from Poland)

Łukasz Jurek and Wioletta Wolańska
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Łukasz Jurek: Department of Sociology and Social Policy, Wroclaw University of Economics and Business, 53-345 Wroclaw, Poland
Wioletta Wolańska: Department of Forecasts and Economic Analysis, Wroclaw University of Economics and Business, 53-345 Wroclaw, Poland

Risks, 2021, vol. 9, issue 1, 1-15

Abstract: The main aim of the article is to evaluate determinants of demand for private long-term care insurance in Poland. Since this type of insurance is not (yet) offered on the market, the demand was examined through a survey in which respondents declared their willingness to purchase it. From the obtained results, it can be concluded that Poles declare a high propensity for private protection in the event of dependence. The vast majority (almost two-thirds) of the respondents were interested in purchasing long-term care insurance, while only one in sixteen respondents showed no such interest. Factors that predominantly determine the willingness to buy are as follows: individual foresight, knowledge about the costs of long-term care, preferences regarding methods of financing care, having children, and the level of education.

Keywords: long-term care; dependency; private insurance (search for similar items in EconPapers)
JEL-codes: C G0 G1 G2 G3 K2 M2 M4 (search for similar items in EconPapers)
Date: 2021
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