The effects of risk aversion on life insurance ownership of single-parent households

Youngwon Nam and Sherman D. Hanna

Applied Economics Letters, 2019, vol. 26, issue 15, 1285-1288

Abstract: This study investigates the effect of risk aversion of single-parent households with at least one child under 18 on life insurance ownership. Analysing the 1992–2013 Survey of Consumer Finances datasets, we found that the likelihood of owning term life insurance decreases as risk aversion increases, but the likelihood of owning cash-value life insurance increases as risk aversion increases. Smokers were less likely to own term life insurance but more likely to own cash-value life insurance than comparable non-smokers.

Date: 2019
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DOI: 10.1080/13504851.2018.1546044

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