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Relationship Between Female Illness And Savings: Evidence From Japanese Women

Author

Listed:
  • Yoko Mimura
  • Kim Love-Myers
  • Janine E. Aronson

Abstract

Unexpected life events, such as the onset of illness, can alter our ability to follow the life cycle model of personal financial planning, yet there are limited studies at a micro-level examining such impacts among households in Japan. We assessed the association between the onset of illness and the presence and amount of financial savings among marrie7d and single middle-aged women, using the Japanese Panel Survey of Consumers (2005-2009) and Analysis of Covariance (ANCOVA). Compared to married women (n=27), single women (n=16) spent more on life insurance premiums following an illness than the year before. Unlike married women, none of the single women had savings or investments prior to the onset of illness, not to mention following such events. In conclusion, middle-aged single women, a growing population in modern Japan, are further disadvantaged following the onset of illness than their married counterparts

Suggested Citation

  • Yoko Mimura & Kim Love-Myers & Janine E. Aronson, 2015. "Relationship Between Female Illness And Savings: Evidence From Japanese Women," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(4), pages 1-10.
    • Handle: RePEc:ibf:ijbfre:v:9:y:2015:i:4:p:1-10
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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