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The Taste for Bequests and Well-Being of Widows: A Model of Life Insurance Demand by Married Couples

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  • Fitzgerald, John M

Abstract

For married couples with some insurance on the husbands, the annuitized consumptions of widows of older husbands is found to be higher, on average, than if their husbands had lived. Given the age of the husband, younger widows are relatively worse-off. In the context of life insurance demand, this paper models the decision about how well-off to leave a surviving spouse relative to her situation had both spouses lived. The parameters of the model are estimated from estate and income tax data for a Wisconsin sample of married couples where the husband predeceased the wife. Copyright 1989 by MIT Press.

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  • Fitzgerald, John M, 1989. "The Taste for Bequests and Well-Being of Widows: A Model of Life Insurance Demand by Married Couples," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 206-214, May.
    • Handle: RePEc:tpr:restat:v:71:y:1989:i:2:p:206-14
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    1. repec:dau:papers:123456789/5369 is not listed on IDEAS
    2. J. François Outreville, 2011. "The relationship between insurance growth and economic development - 80 empirical papers for a review of the literature," ICER Working Papers 12-2011, ICER - International Centre for Economic Research.
    3. Edwin Wong, 2015. "Marital bargaining in the demand for life insurance: evidence from the Health and Retirement Study," Review of Economics of the Household, Springer, vol. 13(2), pages 243-268, June.
    4. Shi, Xiaojun & Wang, Hung-Jen & Xing, Chunbing, 2015. "The role of life insurance in an emerging economy: Human capital protection, assets allocation and social interaction," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 19-33.
    5. J. François Outreville, 2013. "The Relationship Between Insurance and Economic Development: 85 Empirical Papers for a Review of the Literature," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(1), pages 71-122, March.
    6. Tilman Brück & Kati Schindler, 2008. "The Impact of Conflict and Fragility on Households: A Conceptual Framework with Reference to Widows," WIDER Working Paper Series RP2008-83, World Institute for Development Economic Research (UNU-WIDER).
    7. Emily Norman Zietz, 2003. "An Examination of the Demand for Life Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 6(2), pages 159-191, September.
    8. Plisson, Manuel, 2009. "Assurabilité et développement de l'assurance dépendance," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/5064 edited by Lorenzi, Jean-Hervé.

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