Private long-term care insurance ownership in a simple choice environment: Does financial literacy matter?

• المؤلفون الرئيسيون: FONG, Joelle H., STRAUGHAN, Paulin T.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2023
• الموضوعات: Aging; financial knowledge; insurance; long-term care financing; severe disability; Finance and Financial Management; Sociology
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soss_research/3767; https://doi.org/10.1080/08959420.2023.2203601
• المؤسسة: Singapore Management University

We present new evidence on financial literacy and private long-term care insurance (LTCI) ownership in Singapore, where policy intervention has resulted in a highly standardized marketplace with fixed benefit terms and premiums schedules. Using data from the 2018 Singapore Life Panel (N = 6,151), we...