Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Wednesday, October 16 • 4:45pm - 5:45pm
H1b What Are the Determinants of Purchasing Life Insurance Among Older Americans?

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In personal financial planning, life insurance is used as a tool to hedge against a potential loss of income to surviving household members in the event of a breadwinner’s death. However, there are other uses for life insurance including the payment of a debt, the payment of taxes and other expenses associated with transferring wealth, the continuation of a business plan. In addition to their sophisticated structures, life insurance products have high premium costs than other insurance products and are associated with the unpleasant event of death. Researchers focus on the factors driving the demand for life insurance. This study examines the determinants of purchasing life insurance by considering a larger number of factors (e.g. three measures of leaving a bequest), using most recent waves of the RAND HRS panel data, and estimating a fixed-effects logit model.

Author(s): Hossein Salehi, Charlene Kalenkoski

avatar for Hossein Salehi

Hossein Salehi

Assistant Professor of Finance and Financial Planning, California Lutheran University

Wednesday October 16, 2019 4:45pm - 5:45pm CDT
201 A

Attendees (3)