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Transferable Ageing Provisions in Individual Health Insurance Contracts

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Author Info
Baumann, Florian
Meier, Volker
Werding, Martin

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Abstract

We consider lifetime health insurance contracts in which ageing provisions are used to smooth the premium profile. The stock of capital accumulated for each individual can be split into two parts: a premium insurance and an annuitised life insurance, where the latter would be transferable between insurers without triggering premium changes through risk segmentation. In a simulation based on German data, the transferable share declines in age. It is smaller for women than for men, and it falls with an increasing age of entry into the contract.

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Publisher Info
Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number CESifo Working Paper No. 1116.

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Date of creation: 2004
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Handle: RePEc:ces:ceswps:_1116

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Related research
Keywords: health insurance; lifetime contracts; ageing provisions premium insurance; simulations;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Volker Meier, 2003. "Efficient Transfer of Aging Provisions in Private Health Insurance," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  2. Bradley Herring & Mark Pauly, 2003. "Incentive-Compatible Guaranteed Renewable Health Insurance," NBER Working Papers 9888, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Frick, Kevin D, 1998. "Consumer Capital Market Constraints and Guaranteed Renewable Insurance," Journal of Risk and Uncertainty, Springer, vol. 16(3), pages 271-78, July-Aug.. [Downloadable!] (restricted)
  4. Igal Hendel & Alessandro Lizzeri, 2003. "The Role Of Commitment In Dynamic Contracts: Evidence From Life Insurance," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 299-327, February. [Downloadable!] (restricted)
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  5. Cochrane, John H, 1995. "Time-Consistent Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 445-73, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Volker Meier, 2005. "Efficient Transfer of Aging Provisions in Private Health Insurance," Journal of Economics, Springer, vol. 84(3), pages 249-275, 05. [Downloadable!] (restricted)
    Other versions:
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