Steuervorteile und die Rendite des Lebensversicherungssparens / Tax Incentives and the Rate of Return on Saving through Life Insurance

Brunsbach Stefan and Lang Oliver
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Brunsbach Stefan: Universität Mannheim
Lang Oliver: Prognos AG, Missionsstr. 62, CH-4012 Basel

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1998, vol. 217, issue 2, 185-213

Abstract: Saving through life insurance is heavily subsidized within the German income tax system. We investigate the effect of these tax subsidies on the rate of return of life insurance contracts. We develop a method of separating the savings component of life insurance premiums from their risk component. Using a large cross section data source we calculate household specific rates of return of the savings component taking into account the idiosynchratic variation in the eligibility for the tax subsidies. We find that the tax induced dispersion of the rate of return among households is considerable. However, the tax incentives do not foster the demand for life insurances

Keywords: Yield; life assurance; household saving; tax incentives; Rentabilität; Kapitallebensversicherung; Ersparnisbildung; Steueranreize; Yield; life assurance; household saving; tax incentives (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:217:y:1998:i:2:p:185-213

DOI: 10.1515/jbnst-1998-0203

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