Loading...
Policyholder Exercise Behavior in Life Insurance: The State of Affairs
Bauer, Daniel ; Gao, Jin ; Moenig, Thorsten ; Ulm, Eric R. ; Zhu, Nan
Bauer, Daniel
Gao, Jin
Moenig, Thorsten
Ulm, Eric R.
Zhu, Nan
Citations
Altmetric:
Abstract
The paper presents a review of structural models of policyholder behavior in life insurance. We first discuss underlying drivers of policyholder behavior in theory and survey the implications of different models. We then turn to empirical behavior and appraise how well different drivers explain observations. The key contributions lie in the synthesis and the systematic categorization of different approaches. The paper should provide a foundation for future studies, and we describe some important directions for future research in the conclusion.
Description
Date
2015-03-01
Journal Title
Journal ISSN
Volume Title
Publisher
Research Projects
Organizational Units
Journal Issue
Keywords
Optimal Exercise Behavior. Frictions. Guaranteed Minimum Benefits. Life Settlements