Immigration and the demand for life insurance: Evidence from Canada, 1911
AbstractThis paper analyses the determinants of the demand for life insurance using sample data from the 1911 Census of Canada. We find that immigrants’ demand for life insurance was on average around seven percent lower than that of native born Canadians and varied depending on the time that elapsed since immigration. The results imply substantially lower risk aversion of immigrants and possibly indicate the importance of personal networks for informal risk sharing that could evolve over time. We also find that the value of life insurance held by immigrants increases with time elapsing since immigration and converge towards the value of individuals born in Canada.
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Bibliographic InfoPaper provided by Trinity College Dublin, Department of Economics in its series Trinity Economics Papers with number tep1511.
Length: 29 pages
Date of creation: Oct 2011
Date of revision:
Insurance; welfare; migration; Canada;
Find related papers by JEL classification:
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
- N31 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: Pre-1913
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-22 (All new papers)
- NEP-CIS-2011-10-22 (Confederation of Independent States)
- NEP-IAS-2011-10-22 (Insurance Economics)
- NEP-MIG-2011-10-22 (Economics of Human Migration)
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