Long-term care insurance and bequests as instruments for shaping intergenerational relationships [Article].
Material type:
TextPublication details: 1996Subject: The growing demand for long-term care (LTC) causes the relationship between children and their parents to gain increased improtance for society. Parents may create incentives for children to provide LTC through bequests, or they may purchase LTC insurance. While these instruments have been analyzed separately in the literature, this article shows that optimal LTC insurance must be small in the presence of bequests. Thus, the failure of private LTC insurance to diffuse into middle-class households may be explained by the fact that the bequest instrument is fully available to the current generation of parents, who for the first time since 1914 are in a position to bequeath an intact stock of capital in major industrialised countries
| Item type | Current library | Collection | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
Books
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Australian Emergency Management Library | BOOK | P363.34938109944 REP (Browse shelf(Opens below)) | Available | 004134540 |
Journal of risk and uncertainty Vol.2(1) January 1996 pp.65-76
The growing demand for long-term care (LTC) causes the relationship between children and their parents to gain increased improtance for society. Parents may create incentives for children to provide LTC through bequests, or they may purchase LTC insurance. While these instruments have been analyzed separately in the literature, this article shows that optimal LTC insurance must be small in the presence of bequests. Thus, the failure of private LTC insurance to diffuse into middle-class households may be explained by the fact that the bequest instrument is fully available to the current generation of parents, who for the first time since 1914 are in a position to bequeath an intact stock of capital in major industrialised countries
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