Long-term care insurance and life insurance demand

Volker Meier

Munich Reprints in Economics from University of Munich, Department of Economics

Abstract: This article investigates the interaction between life insurance and long-term care insurance markets on the demand side. In the model utility depends on both consumption and bequest, and utility from consumption is contingent on the state of health. While the demand for life insurance increases both with decreasing income and with a rising degree of altruism, the influences of these two parameters on the demand for long-term care insurance are ambiguous. If the utility shock arising from disability declines, both insurance demands will rise.

Date: 1998
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Citations: View citations in EconPapers (8)

Published in GENEVA Papers on Risk and Insurance Theory 1 23(1998): pp. 49-61

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Journal Article: Long-Term Care Insurance and Life Insurance Demand (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:lmu:muenar:19219

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