We examine the different hypotheses which have been put forward to explain the low demand for long-term care insurance using the results from a survey of 2000 Canadians that was conducted in the ...autumn of 2016. Defining the natural market of long-term care insurance buyers as the one catering to individuals aged between 50 and 70, we find that a remarkable proportion of this natural market has never been approached to purchase such protection. We estimate that approximately 60% of this natural market is currently under-served. After eliminating risk perception and demand side explanations for the low market penetration of long-term care insurance, we conclude that supply-side factors and the crowding-out by government programs are the most likely culprits in explaining the low proportion of Canadians that purchase LTC insurance from private providers.
Long Term Care Risk Misperceptions Boyer, Martin; De Donder, Philippe; Fluet, Claude ...
IDEAS Working Paper Series from RePEc,
01/2018
Paper
Open access
This paper reports survey evidence on long-term care (LTC) risk misperceptions and demand for long-term care insurance (LTCI) in Canada. LTC risk misperceptions is divided into three different risks: ...needing help for at least one activity of daily life, needing access to a nursing home, and living to be 85 years old. We contrast subjective (i.e. stated) probabilities with actual probabilities for these three dimensions. We first provide descriptive statistics of how objective and subjective probabilities differ and correlate to each other. Second, we study cross-correlations between different types of risks. We then study how risk misperceptions correlate with individual characteristics, and evaluate how misperceptions affect intentions and actual purchase of LTCI. Our conclusions are two-fold. First, we find that most subjects are not well informed about their individual LTC risks, making it difficult for them to take the correct LTCI decisions. Second, and even though misperceptions explain an individuals actual or his intentions to take-up LTCI, misperceptions are unlikely to explain the poor take-up rate of LTCI in our sample.
Working Paper No. 23918 We conduct a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect against financial risks associated with long-term care ...needs. Using exogenous variation in prices from the survey design, and objective risks computed from a dynamic microsimulation model, these stated-choice probabilities are used to predict market equilibrium for long-term care insurance using the framework developed by Einav et al. (2010). We investigate in turn causes for the low observed take-up of long-term care insurance in Canada despite substantial residual out-of-pocket financial risk. We first find that awareness and knowledge of the product is low in the population: 44% of respondents who do not have long-term care insurance were never offered this type of insurance while overall 31% report no knowledge of the product. Although we find evidence of adverse selection, results suggest it plays a minimal role in limiting take-up. On the demand side, once respondents have been made aware of the risks, we find that demand remains low, in part because of misperceptions of risk, lack of bequest motive and home ownership which may act as a substitute.
Liste des figures Almeida, Fabrice d’; Anglade, Sandrine; Chauveau, Agnès ...
Médias et villes (XVIIIe-XXe siècle,
05/2013
Journal Article
Fig. 1 : L’Unité d’habitation de Marseille (1947-1952) - Le Corbusier Fig. 2 : Le Stabile de La Défense (1974) - Calder Fig. 3 : Les églises Saint-Étienne et Sainte-Geneviève - Gaspard Merian (1650) ...Fig. 4 : Concours du Centre Beaubourg/Pompidou Projet archétypique relatif au premier type : les prouesses constructives de l’avant-garde technologique Fig. 5 : L’Axe Majeur de Dani Karavan (à partir de 1980) Établissement Public d’Aménagement de Cergy-Pontoise (diffusion : Groupe Central des ...
Table des figures Almeida, Fabrice d’; Anglade, Sandrine; Chauveau, Agnès ...
Médias et villes (XVIIIe-XXe siècle,
05/2013
Journal Article
Fig. 1 : L’Unité d’habitation de Marseille (1947-1952) - Le Corbusier Fig. 2 : Le Stabile de La Défense (1974) - Calder Fig. 3 : Les églises Saint-Étienne et Sainte-Geneviève - Gaspard Merian (1650) ...Fig. 4 : Concours du Centre Beaubourg/PompidouProjet archétypique relatif au premier type : les prouesses constructives de l’avant-garde technologique Fig. 5 : L’Axe Majeur de Dani Karavan (à partir de 1980)Établissement Public d’Aménagement de Cergy-Pontoise (diffusion : Groupe Central des Villes...
Free fatty acid receptors (FFAR) belong to a family of five G-Protein Coupled Receptors that are involved in the regulation of lipid metabolism, so that their loss of function increases the risk of ...obesity. The aim of this study was to determine the expansion of genes encoding paralogs of FFAR2 in the chicken, considered as a model organism for developmental biology and biomedical research. By estimating the gene copy number using qPCR, genomic DNA resequencing and RNA-Seq data, we showed the existence of 23 +/- 1.5 genes encoding FFAR2 paralogs in the chicken genome. The FFAR2 paralogs shared an identity from 87.2% up to 99%. Extensive gene conversion was responsible for this high degree of sequence similarities between these genes, and this concerned especially the four amino acids known to be critical for ligand binding. Moreover, elevated non-synonymous/synonymous substitution ratios on some amino-acids within or in close-vicinity of the ligand-binding groove suggests that positive selection may have reduced the effective rate of gene conversion in this region, thus contributing to diversify the function of some FFAR2 paralogs. All the FFAR2 paralogs were located on a microchromosome in a same linkage group. FFAR2 genes were expressed in different tissues and cells such as spleen, peripheral blood mononuclear cells, abdominal adipose tissue, intestine and lung, with the highest rate of expression in testis. Further investigations are needed to determine if these chicken-specific events along evolution are the consequence of domestication and may play a role in regulating lipid metabolism in this species.
Free fatty acid receptors (FFAR) belong to a family of five G-Protein Coupled Receptors that are involved in the regulation of lipid metabolism, so that their loss of function increases the risk of ...obesity. The aim of this study was to determine the expansion of genes encoding paralogs of FFAR2 in the chicken, considered as a model organism for developmental biology and biomedical research. By estimating the gene copy number using qPCR, genomic DNA resequencing and RNA-Seq data, we showed the existence of 23 +/- 1.5 genes encoding FFAR2 paralogs in the chicken genome. The FFAR2 paralogs shared an identity from 87.2% up to 99%. Extensive gene conversion was responsible for this high degree of sequence similarities between these genes, and this concerned especially the four amino acids known to be critical for ligand binding. Moreover, elevated non-synonymous/synonymous substitution ratios on some amino-acids within or in close-vicinity of the ligand-binding groove suggests that positive selection may have reduced the effective rate of gene conversion in this region, thus contributing to diversify the function of some FFAR2 paralogs. All the FFAR2 paralogs were located on a microchromosome in a same linkage group. FFAR2 genes were expressed in different tissues and cells such as spleen, peripheral blood mononuclear cells, abdominal adipose tissue, intestine and lung, with the highest rate of expression in testis. Further investigations are needed to determine if these chicken-specific events along evolution are the consequence of domestication and may play a role in regulating lipid metabolism in this species.
PDF
