Don't They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long-Term Care Insurance

2010 ◽  
Vol 77 (4) ◽  
pp. 715-747 ◽  
Author(s):  
Tian Zhou-Richter ◽  
Mark J. Browne ◽  
Helmut Gründl
Keyword(s):  
Risk Perception ◽  
Long Term Care ◽  
Term Care ◽  
Long Term Care Insurance

scholarly journals Long-Term Care Insurance: Knowledge Barriers, Risk Perception and Adverse Selection

2017 ◽  
Author(s):  
M. Martin Boyer ◽  
Philippe De Donder ◽  
Claude-Denys Fluet ◽  
Marie-Louise Leroux ◽  
Pierre-Carl Michaud
Keyword(s):  
Risk Perception ◽  
Adverse Selection ◽  
Long Term Care ◽  
Term Care ◽  
Knowledge Barriers ◽  
Long Term Care Insurance

scholarly journals Long-Term Care Insurance: Knowledge Barriers, Risk Perception and Adverse Selection

2017 ◽  
Author(s):  
Martin Boyer ◽  
Philippe De Donder ◽  
Claude Fluet ◽  
Marie-Louise Leroux ◽  
Pierre-Carl Michaud
Keyword(s):  
Risk Perception ◽  
Adverse Selection ◽  
Long Term Care ◽  
Term Care ◽  
Knowledge Barriers ◽  
Long Term Care Insurance

scholarly journals Long-Term Care Insurance: Knowledge Barriers, Risk Perception and Adverse Selection

2017 ◽  
Author(s):  
M. Martin Boyer ◽  
Philippe De Donder ◽  
Claude-Denys Fluet ◽  
Marie-Louise Leroux ◽  
Pierre-Carl Michaud
Keyword(s):  
Risk Perception ◽  
Adverse Selection ◽  
Long Term Care ◽  
Term Care ◽  
Knowledge Barriers ◽  
Long Term Care Insurance

Demand-Side Factors Associated with the Purchase of Long-Term Care Insurance

2016 ◽  
Vol 19 (1) ◽  
pp. 23-43 ◽  
Author(s):  
Mark A. Unruh ◽  
David G. Stevenson ◽  
Richard G. Frank ◽  
Marc A. Cohen ◽  
David C. Grabowski
Keyword(s):  
Risk Perception ◽  
Long Term Care ◽  
Consumer Information ◽  
Demand Side ◽  
Term Care ◽  
Factors Associated ◽  
Medicaid Reform ◽  
New Public ◽  
Long Term Care Insurance

Abstract Demand-side barriers are known to be important toward explaining the limited purchase of private long-term care insurance (LTCI). In this study, we examine several factors associated with the demand for LTCI including the availability of less costly substitutes (e.g., Medicaid, family), consumer information, and risk perception. Using buyer surveys from 2000, 2005, and 2010, our results suggest that, among individuals not eliminated through medical underwriting, consumer risk perception and the presence of lower cost, imperfect substitutes are strongly associated with the limited purchase of LTCI. These factors were also predictive of the generosity of coverage purchased. If policymakers seek to stimulate demand for LTCI, new public policies might include Medicaid reform, integrating LTCI with Medicare Advantage plans, enhanced LTCI offerings through employers, and targeted informational campaigns.

Sign in / Sign up

Export Citation Format

Share Document