Transferable Ageing Provisions in Individual Health Insurance Contracts
AbstractWe consider lifetime health insurance contracts in which ageing provisions are used to smooth the premium profile. The capital stock accumulated for each individual can be decomposed into two parts: a premium insurance and an annuitized life insurance, only the latter being transferable between insurers without triggering premium changes through risk segmentation. In a simulation based on German data, the transferable share declines in age and falls with an increasing age of entry into the contract. In spite of different benefit profiles, it is almost identical for women and men. Copyright 2008 The Authors. Journal compilation Verein für Socialpolitik and Blackwell Publishing Ltd. 2008.
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Bibliographic InfoArticle provided by Verein für Socialpolitik in its journal German Economic Review.
Volume (Year): 9 (2008)
Issue (Month): (08)
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Other versions of this item:
- Florian Baumann & Volker Meier & Martin Werding, 2004. "Transferable Ageing Provisions in Individual Health Insurance Contracts," CESifo Working Paper Series 1116, CESifo Group Munich.
- Florian Baumann & Volker Meier & Martin Werding, 2006. "Transferable Ageing Provisions in Individual Health Insurance Contracts," Ifo Working Paper Series Ifo Working Paper No. 32, Ifo Institute for Economic Research at the University of Munich.
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
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