Characteristics of insurance contracts suitable to benefit value insurance settlements

Takuya Yoshizawa

商学討究 (Shogaku Tokyu), 2014, vol. 64, issue 4, 235-255

Abstract: Based on the economic substance of life settlement in US, I examined the possibility of benefit value insurance settlement about each insurance contract type. As a result, the following three conditions are proved to be necessary to exist for benefit value insurance settlement. First, from the viewpoint of insurable interest, the policyholder must be able to change the beneficiary to anyone when transferring an insurance contract to the unrelated third party. Second, the insured event must be most likely to occur during the policy period. Moreover, such situation must continue for certain period of time. Third, the concerned insurance contract must be oneclaim- ending type of insurance contract.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ota:ecorev:10252/5320

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