{"id":7954,"date":"2023-07-23T08:02:38","date_gmt":"2023-07-23T12:02:38","guid":{"rendered":"https:\/\/creei.ca\/long-term-care-risk-misperceptions\/"},"modified":"2023-11-23T13:32:13","modified_gmt":"2023-11-23T18:32:13","slug":"long-term-care-risk-misperceptions","status":"publish","type":"page","link":"https:\/\/creei.ca\/en\/long-term-care-risk-misperceptions\/","title":{"rendered":"Long Term Care Risk Misperceptions"},"content":{"rendered":"
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Based on a survey we conducted in Canada, we contrast subjective probabilities with actual probabilities for three different risks: needing help for at least one activity of daily life, needing access to a nursing home, and living to be 85\u00a0years old. The paper describes how objective and subjective probabilities differ and correlate; studies cross-correlations between different types of risks; and then study how risk misperceptions correlate with individual characteristics, and how misperceptions affect purchase intentions and actual holdings of long-term care insurance (LTCI). We find that most subjects are not well informed about their individual long-term care risks, making it difficult for them to take the correct LTCI decisions. Second, and even though misperceptions explain an individual\u2019s LTCI holding or purchase intentions, misperceptions are unlikely to explain the low LTCI take-up rate in our sample.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Publication uthors: Martin Boyer, Philippe De Donder, Claude Fluet, Marie-Louise Leroux et Pierre-Carl Michaud<\/div>\n<\/div>\n
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Number: 18-05<\/div>\n<\/div>\n
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File: \"\" cahier_18_05_long_term_care_risk_misperceptions.pdf<\/a><\/div>\n<\/div>\n
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Year: 2018<\/div>\n<\/div>\n
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*Scientific Publication: The Geneva Papers on Risk and Insurance\u00a0– Issues and Practice, 44(2), 183\u2013215. doi.org\/10.1057\/s41288-018-00116-4.<\/a><\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>
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