THE IMPLICIT PRICES OF CONTRACT ELEMENTS IN LIFE INSURANCE POLICIES MARKETED IN NORTH CAROLINA

Michael L. Walden

No 259742, Department of Economics and Business - Archive from North Carolina State University, Department of Economics

Abstract: This report presents an empirical investigation of price variation among both whole life insurance policies and term insurance policies. It is hypothesized that price differences between policies can be explained by differences in policy contract provisions and differences in selected company characteristics. Information was collected from a sample of whole life policies and term policies marketed in North Carolina in 1982. The empirical results strongly support the hypothesis that policy contract provisions and selected company characteristics account for differences in whole life policy prices; the results indicate that fewer contract provisions and company characteristics are related to differences in term policy prices.

Keywords: Demand and Price Analysis; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 38
Date: 1983-07-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ncbuar:259742

DOI: 10.22004/ag.econ.259742

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