Assessing the Impact of Suicide Exclusion Periods on Life Insurance

Crisis ◽  
2010 ◽  
Vol 31 (4) ◽  
pp. 217-223 ◽  
Author(s):  
Paul Yip ◽  
David Pitt ◽  
Yan Wang ◽  
Xueyuan Wu ◽  
Ray Watson ◽  
...  
Keyword(s):  
Life Insurance ◽  
Accidental Death ◽  
Insurance Policy ◽  
Death Rates ◽  
Insurance Policies ◽  
Suicidal Death ◽  
Insured Individual ◽  
The Impact ◽  
Insurance Data ◽  
The Relationship

Background: We study the impact of suicide-exclusion periods, common in life insurance policies in Australia, on suicide and accidental death rates for life-insured individuals. If a life-insured individual dies by suicide during the period of suicide exclusion, commonly 13 months, the sum insured is not paid. Aims: We examine whether a suicide-exclusion period affects the timing of suicides. We also analyze whether accidental deaths are more prevalent during the suicide-exclusion period as life-insured individuals disguise their death by suicide. We assess the relationship between the insured sum and suicidal death rates. Methods: Crude and age-standardized rates of suicide, accidental death, and overall death, split by duration since the insured first bought their insurance policy, were computed. Results: There were significantly fewer suicides and no significant spike in the number of accidental deaths in the exclusion period for Australian life insurance data. More suicides, however, were detected for the first 2 years after the exclusion period. Higher insured sums are associated with higher rates of suicide. Conclusions: Adverse selection in Australian life insurance is exacerbated by including a suicide-exclusion period. Extension of the suicide-exclusion period to 3 years may prevent some “insurance-induced” suicides – a rationale for this conclusion is given.

scholarly journals INCREASING THE COMPETITIVENESS OF INSURANCE COMPANY PRODUCTS AND SERVICES USING ECONOMIC AND MATHEMATICAL MODELING METHODS

2021 ◽  
Author(s):  
Mykhailo Demydenko ◽  
Ihor Pistunov
Keyword(s):  
Mathematical Model ◽  
Social Activity ◽  
Insurance Companies ◽  
Comprehensive System ◽  
Insurance Company ◽  
Competitive Advantages ◽  
Insurance Policy ◽  
Insurance Policies ◽  
The Impact

The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. An economic and mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. To analyze the impact of these indicators on the competitiveness of the insurance policy and identify areas for improving the efficiency and competitiveness of the insurance company. The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The assessment of the quality of insurance company services is compliance with the needs, requirements, and insurance interests of customers. This assessment is performed each time an individual client chooses to cooperate with an insurance company that meets his insurance interests and wishes. Therefore, the overall competitiveness of the enterprise depends on the competitiveness of products and services offered on the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. The insurance market in recent years has shown consistently high growth, which makes it attractive for doing business. In these conditions, the task of modeling the activities of the insurance company in a highly competitive market environment becomes relevant. A mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. With the proposed model, insurance companies can objectively assess their weaknesses and strengths to ensure continuous growth and decent competition in a competitive market environment. The model allows you to select performance indicators and perform modeling and determine the consequences of changes in this indicator, analyze the impact of these indicators on the competitiveness of insurance policies and identify areas for improving the efficiency and competitiveness of the insurance company. By conducting such experiments, insurance companies can make more informed choices and decisions, analyze areas of competitiveness, and more efficiently allocate resources.

scholarly journals The impact of the coronavirus pandemic on the insurance market of Uzbekistan and ways to develop funded life insurance

2021 ◽  
Vol 296 ◽  
pp. 06028
Author(s):  
Dinora Baratova ◽  
Khayrullo Khasanov ◽  
Ikromjon Musakhonzoda ◽  
Shokhruh Abdumuratov ◽  
Khusniddin Uktamov
Keyword(s):  
Life Insurance ◽  
External Factor ◽  
Insurance Market ◽  
Insurance Policy ◽  
Investment Return ◽  
The World ◽  
The Impact

This article puts the emphasis on the impact of the coronavirus pandemic on the Uzbek insurance market and ways to elaborate funded life insurance. In addition, analyzed international practice in the development of life insurance in the world is analyzed. Scientists and experts have also conducted research on the impact of the COVID-19 coronavirus pandemic on the insurance market of Uzbekistan. It worthy to note that the insurer is a specific entity operating under the laws of Uzbekistan, and the consumer can be real (with a life insurance policy) and potential (which can be insured under accumulative life insurance). The questionnaires developed by us for research purposes were divided into four groups, and a survey was conducted. In addition, the impact of inflation as an external factor, the rate of investment return arising from the results of the insurer’s investment activities, was assessed. In addition, indicators on the mass of risk were offered for the insurer. Conclusions and recommendations were made on the impact of the coronavirus pandemic on the insurance market of Uzbekistan and ways to develop funded life insurance.

Pengaruh Promosi terhadap Penjualan Polis Asuransi Syariah

2020 ◽  
Vol 3 (2) ◽  
pp. 144-152
Author(s):  
Ermayanis Ermayanis ◽  
Nurse Fatimah MZ
Keyword(s):  
Regression Analysis ◽  
Linear Regression ◽  
Quantitative Methods ◽  
Linear Regression Analysis ◽  
Insurance Companies ◽  
Simple Linear Regression ◽  
Insurance Policy ◽  
Insurance Policies ◽  
Islamic Insurance ◽  
The Relationship

This study aimed to determine the effect of promotion on the sales of Islamic insurance policies at PT. Asuransi Takaful Keluarga RO Riau Agency Pekanbaru. This research was motivated by the development of Islamic insurance companies both in terms of assets and in terms of company contributions that have an impact on insurance policy sales. The formulation of the problem in this study was to determine the effect of the relationship promotion on insurance policy sales. This research used quantitative methods with simple linear regression analysis. The sample in this study was 49 respondents. Based on the results of the partial test (t-test), the tcount was 1.391 <t-table 2.016, so the promotion had no significant effect on the variable sales of the insurance policy of PT. Asuransi Takaful Keluarga RO Riau Pekanbaru. The regression results showed that the promotion variable does not affect sales.

scholarly journals Puff, The Magic Dragon, and the Estate Planner

2015 ◽  
Vol 3 (1) ◽  
pp. 1-34
Author(s):  
Gerry W. Beyer ◽  
Brooke Dacus
Keyword(s):  
Life Insurance ◽  
Marijuana Use ◽  
Illegal Drugs ◽  
Estate Planning ◽  
Insurance Policies ◽  
Recreational Marijuana ◽  
History Of ◽  
The Impact

With the legalization of medical and recreational marijuana in almost half of the states, practitioners need to be aware of the interface between marijuana and estate planning. This Article provides a discussion of the major issues that arise in this context. After bringing readers current with the history of legalized marijuana, the Article focuses on how marijuana use may impact a user’s capacity to execute a will and other estate planning documents. The Article then examines other estate planning concerns such as will and trust provisions conditioning benefits on the non-use of “illegal drugs” and the impact of marijuana use on life insurance policies. The Article wraps up with a discussion of how an estate planner may deal with marijuana-based assets when planning an estate and how to value those assets after the owner has died.

Plague, Policy and Popular Unrest in British India

1988 ◽  
Vol 22 (4) ◽  
pp. 723-755 ◽  
Author(s):  
Ira Klein
Keyword(s):  
World War I ◽  
Indian Society ◽  
British India ◽  
World War ◽  
Death Rates ◽  
Indian Experience ◽  
White Plague ◽  
High Death ◽  
The Impact ◽  
The Relationship

The dark and fatal passage of plague across the Indian sub-continent in the early twentieth-century, and the inability of Western medicine quickly to halt its incursions symptomized disharmonies in the relationship between modernization and Indian society and ecology. The impact of economic development and environmental change on Indian mortality has been examined elsewhere, but the result was the perpetuation or increase of high death-rates from a multiplicity of diseases through the end of World War I. In the half-century 1872-1921 annual mortality ranged between 40 and 50 per thousand, more than twice the death-rates of the advanced West, and life expectancy fell from about 25 to 20 years. The Indian experience was not unique. Epidemics of cholera and the ‘white plague’ of tuberculosis in the industrializing West, and the ordeal of mortality in the colonial Philippines also illustrated how development activities induced social and environmental disruptions and sustained or promoted high death-rates.

The impact of Islamic beliefs on consumers’ attitudes and purchase intentions of life insurance

2015 ◽  
Vol 33 (4) ◽  
pp. 423-441 ◽  
Author(s):  
Nizar Souiden ◽  
Yosr Jabeur
Keyword(s):  
Life Insurance ◽  
Structural Equation ◽  
Purchase Intentions ◽  
Equation Modeling ◽  
Muslim Country ◽  
Content Type ◽  
Muslim Countries ◽  
The Impact ◽  
The Relationship

Purpose – The purpose of this paper is to investigate the role of Islamic beliefs in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance. Second, it investigates the role of Islamic beliefs in moderating the relationship between the attitude toward conventional/Islamic life insurance and purchase intentions of these types of services. Design/methodology/approach – A questionnaire was administered online in a Muslim liberal country where both types of insurance are offered. Based on a total sample of 207 responses, ANOVA tests and a structural Equation Modeling were used to test the research hypotheses. Findings – Results show that: the higher (lower) the Islamic beliefs of individuals, the less (more) favorable their attitude will be toward conventional life insurance and the more (less) favorable their attitude will be toward Islamic life insurance; the higher (lower) the Islamic beliefs of individuals, the weaker (stronger) their purchase intentions for conventional life insurance will be and the stronger (weaker) their purchase intentions for Islamic life insurance will be; and Islamic beliefs moderate the relationships between attitudes and purchase intentions of life insurance. Practical implications – Because they play a significant role in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance, Islamic beliefs can be used as a meaningful criterion to segment the life insurance markets in (less conservative) Muslim countries. This would help insurance companies to better target their services. In a case where two segments coexist (i.e. individuals scoring low on Islamic beliefs vs individuals scoring high on Islamic beliefs), insurers should weigh different strategic options by targeting one of the two segments or both of them. Perhaps the main issue occurs when an insurer attempts to target both segments. In this case, managers should be aware of the confusion that they might create in the mind of their clients (or potential clients). Concurrently offering two types of life insurance (conventional and Islamic) may put the insurers’ credibility at stake. Originality/value – Earlier studies report that in Muslim countries, the demand for life insurance is weak or negatively correlated with religion. The majority of these studies consider religion as a macro indicator (i.e. at the country level) when explaining the demand for such services. The present study further clarifies the nature of the relationship between religion and the demand for life insurance by: examining the role of Islamic beliefs (as one of the main dimensions of Muslims’ religiosity) at the micro level (i.e. at the consumer level); and investigating the moderating role of Islamic beliefs in explaining attitudes and purchase intentions of conventional and Islamic life insurance in a less conservative Muslim country.

TRUST PROPERTY AND UNJUST ENRICHMENT: TRACING INTO THE PROCEEDS OF LIFE INSURANCE POLICIES

2000 ◽  
Vol 59 (3) ◽  
pp. 421-471
Author(s):  
Craig Rotherham
Keyword(s):  
Life Insurance ◽  
Insurance Policy ◽  
Property Development ◽  
Unjust Enrichment ◽  
Insurance Policies ◽  
Development Scheme ◽  
Trust Property

FOSKETT v. McKeown [2000] 2 W.L.R. 1299 concerned the aftermath of a property development scheme in the Algarve marketed by one Mr. Murphy. 220 customers (“the purchasers”) entered into contracts which provided that after two years they would each be conveyed a specified plot of land or their money would be repaid with interest. Unless and until the purchasers’ money was used for the stated purposes it was to be held on trust. However, at the expiration of the specified period, it was discovered that the trust money had been misappropriated. While much of the trust money was untraceable, Murphy had applied around £20,000 of it to pay the fourth and fifth premiums of a life insurance policy that was settled in favour of his wife and children (“the beneficiaries”). In 1991, after his malfeasance was exposed, Murphy committed suicide. The insurance policy yielded a death benefit of £1,000,000. The question to be resolved was whether the use of the purchasers’ money to pay some of the premiums gave them any interest in the death benefit.

scholarly journals The Impact of Regulatory Quality on the Nexus between Life Insurance Development and Economic Growth: Evidence from European Developing Countries

2020 ◽  
pp. 141-152
Author(s):  
Gengnan Chiang ◽  
Chin-Chi Liu
Keyword(s):  
Economic Growth ◽  
Life Insurance ◽  
Smooth Transition ◽  
Growth Effect ◽  
Governance Indicators ◽  
Regulatory Quality ◽  
Smooth Transition Regression ◽  
The Impact ◽  
The Relationship ◽  
Insurance Development

The purpose of this study is to explore whether the regulatory quality influences the relation between life insurance development and economic growth by applying a nonlinear panel smooth transition regression (PSTR) model. Using the data from Worldwide Governance Indicators (WGI) to assess the soundness of regulatory quality, this paper finds that the relationship between life insurance development and economic growth is significantly positive in the countries with relatively better regulatory quality. Our findings not only indicate that sound regulatory quality could encourage the growth effect of life insurance sectors but also have far-reaching practical implications for other economies to realize regulatory quality should matter for the development of the economic growth.

Abstract 13654: Air Pollution, Environmental Greenness, and Total Cardiovascular Disease Mortality

Circulation ◽  
2020 ◽  
Vol 142 (Suppl_3) ◽  
Author(s):  
William W Aitken ◽  
Kefeng Wang ◽  
Abraham Parrish ◽  
Diego Celli ◽  
Joanna Lombard ◽  
...  
Keyword(s):  
Cardiovascular Disease ◽  
Air Pollution ◽  
Air Quality ◽  
Mediation Analysis ◽  
Vegetation Index ◽  
The United States ◽  
Death Rates ◽  
The Impact ◽  
The Relationship ◽  
Cvd Mortality

Introduction: Air quality is a major environmental determinant of health. Environmental greenness – a measure of vegetative presence – has been associated with reduced risk of cardiovascular disease. However, the impact of greenness on the relationship between air pollution and cardiovascular disease (CVD) has been less studied. Hypothesis: Environmental greenness is associated with reduced total CVD mortality and mediates some of the relationship between air pollution and CVD mortality. Methods: The Centers for Disease Control and Prevention Interactive Atlas of Heart Disease provided national CVD death rates, Environmental Protection Agency air quality measurements (particulate matter PM2.5), and Census sociodemographic information (age, race, education, and income) by county across the United States. These data were matched to mean county normalized difference vegetation index (NDVI) derived from National Aeronautics and Space Administration (NASA) Moderate Resolution Imaging Spectroradiometer (MODIS) 250 m spatial resolution data. Linear regression modeling estimated the relationship between air pollution and greenness on CVD mortality using SAS version 9.4 software. Mediation analysis of greenness on the relationship between air pollution and CVD mortality was then conducted. Results: Ambient concentration of PM2.5 ranged from 3 to 19.7 μg/m3 with a mean of 9 μg/m3 ± 1.9 μg/m3 and NDVI ranged from 0.00 to 0.80 with mean of 0.41 ± 0.13. For every 0.1-unit increase in NDVI, CVD mortality decreased by 13.2 deaths per 100,000 adults (p = 0.0001). For every 1 μg/m3 increase in PM2.5, CVD mortality increased by 38.8 deaths per 100,000 adults (p < 0.0001). Mediation analysis suggests that NDVI is a statistically significant mediator of the PM2.5 to CVD mortality relationship, with NDVI explaining 4.3% of this relationship (p=0.0009). Conclusions: Our analysis of air quality, environmental greenness, and CVD death rates demonstrates that greenness is independently associated with reduced CVD morality and also mediates the relationship between air pollution and CVD mortality. The evidence suggests that environmental interventions to increase greenness and reduce air pollution may reduce excess cardiovascular mortality.

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