RELATIONSHIP BETWEEN FEMALE ILLNESS AND SAVINGS: EVIDENCE FROM JAPANESE WOMEN

Yoko Mimura, Kim Love-Myers and Janine E. Aronson

The International Journal of Business and Finance Research, 2015, vol. 9, issue 4, 1-10

Abstract: Unexpected life events, such as the onset of illness, can alter our ability to follow the life cycle model of personal financial planning, yet there are limited studies at a micro-level examining such impacts among households in Japan. We assessed the association between the onset of illness and the presence and amount of financial savings among marrie7d and single middle-aged women, using the Japanese Panel Survey of Consumers (2005-2009) and Analysis of Covariance (ANCOVA). Compared to married women (n=27), single women (n=16) spent more on life insurance premiums following an illness than the year before. Unlike married women, none of the single women had savings or investments prior to the onset of illness, not to mention following such events. In conclusion, middle-aged single women, a growing population in modern Japan, are further disadvantaged following the onset of illness than their married counterparts

Keywords: Health; Investments; Japan; Life Insurance; Marital Status; Savings; Women (search for similar items in EconPapers)
JEL-codes: D14 J12 (search for similar items in EconPapers)
Date: 2015
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