Compulsory public pension and the demand for life insurance: the case of Sweden

Lars Fredrik Andersson () and Liselotte Eriksson
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Lars Fredrik Andersson: Umeå University
Liselotte Eriksson: Umeå University

No 13030, Working Papers from Economic History Society

Abstract: "We employ cost-of-living surveys and business archives to examine the impact of compulsory pension on the demand for life insurance in Sweden from 1884 to 1914 - a period covering the implementation of the first public compulsory old-age pension reform and the take-off of industry life insurance. As predicted from the contemporary literature on crowding-out effects, we find that compulsory pension reduces the demand for life insurance. Our results also show that income was the major driver for life insurance, along with family structure and geographical localization, while dependence on a male breadwinner played a less significant role."

Keywords: Life insurance; Old-age pension; Household; Crowding-out; Sweden (search for similar items in EconPapers)
JEL-codes: N00 (search for similar items in EconPapers)
Date: 2013-04
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