Welcome to the 2018 AFS Annual Meeting, being held this year, in conjunction with FPA in Chicago!
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Tuesday, October 2 • 10:30am - 11:20am
C3b - What Are the Determinants of Purchasing Long-Term-Care Insurance by Older Americans?

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Although long-term care is a substantial risk that is threatening older Americans’ financial well-being, the demand for long-term-care insurance is not as strong as expected. The literature suggests that only 13 percent of the elderly above the age of 65 are insured against the possibility of going to a nursing home.  This study examines the determinants of long-term-care insurance purchases. It is found that the probability of leaving bequests is related positively to obtaining long-term-care insurance. However, the number of children is associated negatively with purchasing long-term-care insurance.

Author(s): Hossein Salehi, Charlene Kalenkoski

avatar for Hossein Salehi

Hossein Salehi

Assistant Professor of Finance and Financial Planning, California Lutheran University

Tuesday October 2, 2018 10:30am - 11:20am CDT
Michigan 1C

Attendees (3)