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The effect of wealth and health status on joint saving and insurance decisions

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  • David Crainich

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - ULCO - Université du Littoral Côte d'Opale - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

Abstract

The paper analyzes the propensity to seek protection against health risks through insurance contracts and savings. We propose a theoretical model that characterizes the joint demand for these two risk management instruments when individuals are exposed to a disease that has financial and health consequences. We then establish the conditions under which reduced wealth and deteriorated health have a negative effect on this joint demand. Regarding the specific effect of health status on the propensity to take out insurance and save, recent experimental studies indicate that these conditions are likely to be met in practice, raising the question of financial protection for the most vulnerable individuals.

Suggested Citation

  • David Crainich, 2025. "The effect of wealth and health status on joint saving and insurance decisions," Post-Print hal-05538857, HAL.
    • Handle: RePEc:hal:journl:hal-05538857
    DOI: 10.2307/48845130
    Note: View the original document on HAL open archive server: https://hal.science/hal-05538857v1
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