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Transferable Ageing Provisions in Individual Health Insurance Contracts

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Author Info
Florian Baumann
Volker Meier ()
Martin Werding

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Abstract

We consider lifetime health insurance contracts in which ageing provisions are used tosmooth the premium profile. The capital stock accumulated for each individual can bedecomposed into two parts: a premium insurance and an annuitised life insurance, onlythe latter being transferable between insurers without triggering premium changesthrough risk segmentation. In a simulation based on German data, the transferable sharedeclines in age and falls with an increasing age of entry into the contract. In spite ofdifferent benefit profiles, it is almost identical for women and men.

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Publisher Info
Paper provided by Ifo Institute for Economic Research at the University of Munich in its series Ifo Working Paper Series with number Ifo Working Paper No. 32.

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Date of creation: 2006
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Handle: RePEc:ces:ifowps:_32

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

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Find related papers by JEL classification:
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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  1. 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)
  2. 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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  3. 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)
  4. 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:
  5. Bradley Herring & Mark Pauly, 2003. "Incentive-Compatible Guaranteed Renewable Health Insurance," NBER Working Papers 9888, National Bureau of Economic Research, Inc. [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)
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