IDEAS home Printed from https://ideas.repec.org/a/kap/jrisku/v16y1998i3p271-78.html
   My bibliography  Save this article

Consumer Capital Market Constraints and Guaranteed Renewable Insurance

Author

Listed:
  • Frick, Kevin D

Abstract

This paper analyzes a market in which individuals can purchase guaranteed renewable insurance policies to insure against the risk of loss in the current period and the risk of an increased probability of loss. Individuals who cannot borrow will purchase partially guaranteed renewable insurance at most. Relatively impatient individuals may purchase policies with no guaranteed renewability features. Without borrowing, the results are similar regardless of whether consumers can save. Copyright 1998 by Kluwer Academic Publishers

Suggested Citation

  • Frick, Kevin D, 1998. "Consumer Capital Market Constraints and Guaranteed Renewable Insurance," Journal of Risk and Uncertainty, Springer, vol. 16(3), pages 271-278, July-Aug..
    • Handle: RePEc:kap:jrisku:v:16:y:1998:i:3:p:271-78
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0895-5646/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Florian Baumann & Volker Meier & Martin Werding, 2008. "Transferable Ageing Provisions in Individual Health Insurance Contracts," German Economic Review, Verein für Socialpolitik, vol. 9(3), pages 287-311, August.
    2. Renaud Bourlès, 2017. "Prevention incentives in long‐term insurance contracts," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(3), pages 661-674, September.
    3. repec:ces:ifodic:v:1:y:2003:i:3:p:14567912 is not listed on IDEAS
    4. Michael Hoy & Afrasiab Mirza & Asha Sadanand, 2021. "Guaranteed renewable life insurance under demand uncertainty," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(1), pages 131-159, March.
    5. Volker Meier & Martin Werding, 2007. "Risk-specific transferable ageing provisions in private health insurance," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 38, October.
    6. Richard Peter & Andreas Richter & Petra Steinorth, 2016. "Yes, No, Perhaps? Premium Risk and Guaranteed Renewable Insurance Contracts With Heterogeneous Incomplete Private Information," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(2), pages 363-385, June.
    7. Kevin Frick, 2002. "Valuing improvements in lifetime endowments in markets with no borrowing," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 30(2), pages 191-195, June.
    8. Volker Meier, 2005. "Efficient Transfer of Aging Provisions in Private Health Insurance," Journal of Economics, Springer, vol. 84(3), pages 249-275, May.
    9. Paul Kleindorfer & Howard Kunreuther & Chieh Ou-Yang, 2012. "Single-year and multi-year insurance policies in a competitive market," Journal of Risk and Uncertainty, Springer, vol. 45(1), pages 51-78, August.
    10. Volker Meier, 2003. "Solving the Premium Risk Problem, Insurer Switches, and Transfers of Aging Provisions," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(3), pages 20-23, October.
    11. Volker Meier, 2003. "Solving the Premium Risk Problem, Insurer Switches, and Transfers of Aging Provisions," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(03), pages 20-23, October.
    12. Mark Pauly & Kai Menzel & Howard Kunreuther & Richard Hirth, 2011. "Guaranteed renewability uniquely prevents adverse selection in individual health insurance," Journal of Risk and Uncertainty, Springer, vol. 43(2), pages 127-139, October.
    13. Herring, Bradley & Pauly, Mark V., 2006. "Incentive-compatible guaranteed renewable health insurance premiums," Journal of Health Economics, Elsevier, vol. 25(3), pages 395-417, May.
    14. Bradley Herring & Mark V. Pauly, 2006. "The Effect of State Community Rating Regulations on Premiums and Coverage in the Individual Health Insurance Market," NBER Working Papers 12504, National Bureau of Economic Research, Inc.
    15. Bradley Herring & Mark Pauly, 2003. "Incentive-Compatible Guaranteed Renewable Health Insurance," NBER Working Papers 9888, National Bureau of Economic Research, Inc.
    16. Salam Abdus, 2010. "A Game‐Theoretical Interpretation of Guaranteed Renewability in Health Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(2), pages 195-206, September.
    17. Annette Hofmann & Mark Browne, 2013. "One-sided commitment in dynamic insurance contracts: Evidence from private health insurance in Germany," Journal of Risk and Uncertainty, Springer, vol. 46(1), pages 81-112, February.
    18. Ines Läufer, 2014. "Another perspective on the high uninsured-rate in the USA: Crowding out of long term health insurance by the institutional setting of the U.S. health insurance system," Otto-Wolff-Institut Discussion Paper Series 02/2014, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrisku:v:16:y:1998:i:3:p:271-78. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.