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Transferable Ageing Provisions in Individual Health Insurance Contracts

  • Florian Baumann
  • Volker Meier
  • Martin Werding

We consider lifetime health insurance contracts in which ageing provisions are used to smooth the premium profile. The capital stock accumulated for each individual can be decomposed into two parts: a premium insurance and an annuitized life insurance, only the latter being transferable between insurers without triggering premium changes through risk segmentation. In a simulation based on German data, the transferable share declines in age and falls with an increasing age of entry into the contract. In spite of different benefit profiles, it is almost identical for women and men. Copyright 2008 The Authors. Journal compilation Verein für Socialpolitik and Blackwell Publishing Ltd. 2008.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0475.2008.00434.x
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Article provided by Verein für Socialpolitik in its journal German Economic Review.

Volume (Year): 9 (2008)
Issue (Month): (08)
Pages: 287-311

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Handle: RePEc:bla:germec:v:9:y:2008:i::p:287-311
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  1. Kifmann, Mathias, 2002. "Insuring Premium Risk in Competitive Health Insurance Markets," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 15, number urn:isbn:9783161477409.
  2. Volker Meier, 2003. "Efficient Transfer of Aging Provisions in Private Health Insurance," CESifo Working Paper Series 862, CESifo Group Munich.
  3. Igal Hendel & Alessandro Lizzeri, 2000. "The Role of Commitment in Dynamic Contracts: Evidence from Life Insurance," NBER Working Papers 7470, National Bureau of Economic Research, Inc.
  4. Bradley Herring & Mark Pauly, 2003. "Incentive-Compatible Guaranteed Renewable Health Insurance," NBER Working Papers 9888, National Bureau of Economic Research, Inc.
  5. Cochrane, John H, 1995. "Time-Consistent Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 445-73, June.
  6. 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..
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