The Effects of Health Status on Life Insurance Holdings in 16 European Countries
This study examines the relationships among three health status indicators (self-perceived health status, objective health status, and future health risk) and life insurance holdings in 16 European countries. Our results show that households with poor self-perceived health status and high future hea...
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doaj-1cfd617cb4474e47a579000fb7bf5dca2020-11-24T21:17:17ZengMDPI AGSustainability2071-10502018-09-011010345410.3390/su10103454su10103454The Effects of Health Status on Life Insurance Holdings in 16 European CountriesSaruultuya Tsendsuren0Chu-Shiu Li1Sheng-Chang Peng2Wing-Keung Wong3Business Development Division, Golomt Bank of Mongolia, Ulaanbaatar 15160, MongoliaDepartment of Risk Management and Insurance, College of Finance and Banking, National Kaohsiung University of Science and Technology, Kaohsiung 824, TaiwanDepartment of Risk Management and Insurance, School of Management, Ming Chuan University, Taipei 111, TaiwanDepartment of Finance, College of Management, Fintech Center, and Big Data Research Center, Asia University, Taichung 41354, TaiwanThis study examines the relationships among three health status indicators (self-perceived health status, objective health status, and future health risk) and life insurance holdings in 16 European countries. Our results show that households with poor self-perceived health status and high future health risk are less likely to purchase life insurance in the entire sample as well as in the subsample for countries with a national health system (NHS). In non-NHS countries, those households that have high future health risk are less inclined to purchase life insurance. In terms of preferences for types of life insurance policies (term life, whole life, both, or none) in the whole sample, poor self-perceived health status and high future health risk are less inclined to hold only term life insurance policy. In addition, poor self-perceived health status and high future health risk have a negative impact on holdings of both types of life insurance. Our findings reveal that there is no adverse selection problem in the life insurance market, especially in European countries with NHS.http://www.mdpi.com/2071-1050/10/10/3454life insuranceterm life insurancewhole life insuranceself-perceived healthobjective health statusfuture health riskSHAREnational health system |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Saruultuya Tsendsuren Chu-Shiu Li Sheng-Chang Peng Wing-Keung Wong |
spellingShingle |
Saruultuya Tsendsuren Chu-Shiu Li Sheng-Chang Peng Wing-Keung Wong The Effects of Health Status on Life Insurance Holdings in 16 European Countries Sustainability life insurance term life insurance whole life insurance self-perceived health objective health status future health risk SHARE national health system |
author_facet |
Saruultuya Tsendsuren Chu-Shiu Li Sheng-Chang Peng Wing-Keung Wong |
author_sort |
Saruultuya Tsendsuren |
title |
The Effects of Health Status on Life Insurance Holdings in 16 European Countries |
title_short |
The Effects of Health Status on Life Insurance Holdings in 16 European Countries |
title_full |
The Effects of Health Status on Life Insurance Holdings in 16 European Countries |
title_fullStr |
The Effects of Health Status on Life Insurance Holdings in 16 European Countries |
title_full_unstemmed |
The Effects of Health Status on Life Insurance Holdings in 16 European Countries |
title_sort |
effects of health status on life insurance holdings in 16 european countries |
publisher |
MDPI AG |
series |
Sustainability |
issn |
2071-1050 |
publishDate |
2018-09-01 |
description |
This study examines the relationships among three health status indicators (self-perceived health status, objective health status, and future health risk) and life insurance holdings in 16 European countries. Our results show that households with poor self-perceived health status and high future health risk are less likely to purchase life insurance in the entire sample as well as in the subsample for countries with a national health system (NHS). In non-NHS countries, those households that have high future health risk are less inclined to purchase life insurance. In terms of preferences for types of life insurance policies (term life, whole life, both, or none) in the whole sample, poor self-perceived health status and high future health risk are less inclined to hold only term life insurance policy. In addition, poor self-perceived health status and high future health risk have a negative impact on holdings of both types of life insurance. Our findings reveal that there is no adverse selection problem in the life insurance market, especially in European countries with NHS. |
topic |
life insurance term life insurance whole life insurance self-perceived health objective health status future health risk SHARE national health system |
url |
http://www.mdpi.com/2071-1050/10/10/3454 |
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