{"id":7963,"date":"2023-07-23T08:02:38","date_gmt":"2023-07-23T12:02:38","guid":{"rendered":"https:\/\/creei.ca\/long-term-care-insurance-knowledge-barriers-risk-perception-and-adverse-selection\/"},"modified":"2023-11-23T13:39:13","modified_gmt":"2023-11-23T18:39:13","slug":"long-term-care-insurance-knowledge-barriers-risk-perception-adverse-selection","status":"publish","type":"page","link":"https:\/\/creei.ca\/en\/long-term-care-insurance-knowledge-barriers-risk-perception-adverse-selection\/","title":{"rendered":"Long-term Care Insurance: Knowledge Barriers, Risk Perception and Adverse Selection"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-1\"><div id=\"page\">\n<div class=\"colloneDeuxTierGauche\">\n<article class=\"node-666 node node-publications node-promoted view-mode-full node-by-viewer clearfix\">\n<header><\/header>\n<div class=\"field field-name-body field-type-text-with-summary field-label-above\">\n<div class=\"field-label\">Short summary:<\/div>\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>We conduct a survey where we ask respondents to rate various insurance products aimed at protecting against long-term care financial risks. We use price variation built into the survey, as well as objective care and death risks for Canada and respondents\u2019 purchasing probabilities, to predict market equilibrium for long-term care insurance. We then investigate the low take-up of long-term care insurance and find that 44% of respondents without insurance were never offered any, and 31% of the overall sample had no knowledge of the product. Our results suggest self-selection of high-risk individuals plays a minimal role in limiting take-up. Once respondents are made aware of the risks, we find that demand remains low because of risk misperceptions, lack of bequest motive, and home ownership.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"field field-name-field-auteurs-publication field-type-taxonomy-term-reference field-label-inline clearfix\">\n<div class=\"field-label\">Publication Authors: Martin Boyer, Philippe De Donder, Claude Fluet, Marie-Louise Leroux et Pierre-Carl Michaud<\/div>\n<\/div>\n<div class=\"field field-name-field-num-ro field-type-text field-label-inline clearfix\">\n<div class=\"field-label\">Number: 17-01<\/div>\n<\/div>\n<div class=\"field field-name-field-fichier field-type-file field-label-inline clearfix\">\n<div class=\"field-label\">File: <img decoding=\"async\" class=\"file-icon\" title=\"application\/pdf\" src=\"https:\/\/creei.ca\/wp-content\/uploads\/2019\/07\/application-pdf.png\" alt=\"PDF icon\" \/> <a href=\"https:\/\/creei.ca\/wp-content\/uploads\/2019\/08\/cahier_17-01_ltc_insurance.pdf\" type=\"application\/pdf; length=1892559\">cahier_17-01_ltc_insurance.pdf<\/a><\/div>\n<\/div>\n<div class=\"field field-name-field-ann-e field-type-taxonomy-term-reference field-label-inline clearfix\">\n<div class=\"field-label\">Year: <a href=\"\/fr\/ann%C3%A9es\/2017\">2017<\/a><\/div>\n<div class=\"field-label\">*Scientific Publication: <a href=\"http:\/\/www.aeaweb.org\/articles?id=10.1257\/pol.20180227&amp;&amp;from=f\">American Economic Journal: Economic Policy, 12-3, 134-169. doi.org\/10.1257\/pol.20180227.<\/a><\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-7963","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/7963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/comments?post=7963"}],"version-history":[{"count":1,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/7963\/revisions"}],"predecessor-version":[{"id":8298,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/7963\/revisions\/8298"}],"wp:attachment":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/media?parent=7963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}