TY  - RPRT
CY  - Toulouse
ID  - publications48309
UR  - http://tse-fr.eu/pub/128609
A1  - De Donder, Philippe
A1  - Boyer, Martin
A1  - Fluet, Claude-Denys
A1  - Michaud, Pierre-Carl
A1  - Leroux, Marie-Louise
Y1  - 2023/10//
N2  - This article studies the some of the reasons underlying the under-provision of LTC insurance in Québec and Ontario. Using 2016 survey data, we demonstrate that misperception biases regarding demographic risks (of mortality and of dependency) cannot alone explain the low demand for this insurance product. Even if individual perceptions of these risks are heterogenous, individuals tend on average to over-estimate their survival probability and the probability of entering a LTC home, which should lead to over-insurance rather than to under-insurance for LTC. We show instead that the most probable reason for the under-provision of LTC insurance is that individuals do not know this financial product. Hence, if policy makers were to foster the purchase of LTC insurance, they should run advertising campaigns to inform the public about these products. Another interesting policy could be to develop bundled insurance products.
PB  - TSE Working Paper
T3  - TSE Working Paper
KW  - biais de perception
KW  - probabilité de survie
KW  - probabilité de perte d’autonomie
KW  - demande d’assurance
KW  - soins de longue durée
KW  - dépendance
M1  - working_paper
TI  - La mauvaise perception des risques de longévité et de dépendance ne suffit pas à expliquer la faiblesse du marché de l'assurance dépendance (au Canada)
AV  - public
EP  - 18
ER  -