Work

Policyholder Exercise Behavior in Life Insurance: The State of Affairs

Year: 2017

Type: article

Abstract: The article presents a review of structural models of policyholder behavior in life insurance. We first discuss underlying drivers of policyholder behavior in theory and survey the implications of different models. We then turn to empirical behavior and appraise how well different drivers explain observations. The key contributions lie in the synthesis and the systematic categorization of different approaches. The article should provide a foundation for future studies, and we describe some important directions for future research in the conclusion.

Source: North American Actuarial Journal

DOI: 10.1080/10920277.2017.1314816

Authors: Daniel Bauer, Jin Gao, Thorsten Moenig, Eric R. Ulm, Nan Zhu

Institutions: University of Alabama, Lingnan University, Temple University, Victoria University of Wellington, Pennsylvania State University

Language: English

Topic: Insurance and Financial Risk Management

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1918315622

FWCI: 7.37

Cites: 112

Cited by: 44

Related to: 10