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Determinants of Demand for Private Long-Term Care Insurance (Empirical Evidence from Poland)

Author

Listed:
  • Łukasz Jurek

    (Department of Sociology and Social Policy, Wroclaw University of Economics and Business, 53-345 Wroclaw, Poland)

  • Wioletta Wolańska

    (Department of Forecasts and Economic Analysis, Wroclaw University of Economics and Business, 53-345 Wroclaw, Poland)

Abstract

The main aim of the article is to evaluate determinants of demand for private long-term care insurance in Poland. Since this type of insurance is not (yet) offered on the market, the demand was examined through a survey in which respondents declared their willingness to purchase it. From the obtained results, it can be concluded that Poles declare a high propensity for private protection in the event of dependence. The vast majority (almost two-thirds) of the respondents were interested in purchasing long-term care insurance, while only one in sixteen respondents showed no such interest. Factors that predominantly determine the willingness to buy are as follows: individual foresight, knowledge about the costs of long-term care, preferences regarding methods of financing care, having children, and the level of education.

Suggested Citation

  • Łukasz Jurek & Wioletta Wolańska, 2021. "Determinants of Demand for Private Long-Term Care Insurance (Empirical Evidence from Poland)," Risks, MDPI, vol. 9(1), pages 1-15, January.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:1:p:27-:d:482326
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    References listed on IDEAS

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