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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 stock of capital accumulated for each individual can be split into two parts: a premium insurance and an annuitised life insurance, where the latter would be transferable between insurers without triggering premium changes through risk segmentation. In a simulation based on German data, the transferable share declines in age. It is smaller for women than for men, and it falls with an increasing age of entry into the contract.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2004/wp-cesifo-2004-01/cesifo1_wp1116.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 1116.

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Date of creation: 2004
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Handle: RePEc:ces:ceswps:_1116
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  1. 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.
  2. Volker Meier, 2005. "Efficient Transfer of Aging Provisions in Private Health Insurance," Journal of Economics, Springer, vol. 84(3), pages 249-275, 05.
  3. 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.
  4. 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..
  5. Bradley Herring & Mark Pauly, 2003. "Incentive-Compatible Guaranteed Renewable Health Insurance," NBER Working Papers 9888, National Bureau of Economic Research, Inc.
  6. Cochrane, John H, 1995. "Time-Consistent Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 445-73, June.
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