Life insurance lapse behaviour: evidence form China

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<title>Life insurance lapse behaviour: evidence form China</title>
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<namePart>Yu, Lu</namePart>
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<namePart>Lin, Tzuting</namePart>
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<abstract displayLabel="Summary">We investígate determinants of lapse rates in the Chinese life insurance industry using finn-province level data from 2005 to 2013. We conduct a panel study, exploring significant regional differences and dramatic changes in demographic conditions during the urbanisation process in China. First, we find that the unemployment rate is positively related to lapse rates, and the driving force is migrant population rather than local urban residents. This provides evidence for the emergency fund hypothesis from a new perspective. Second, we find that an insurer's reputation is negatively linked to lapse rates. We define this as the 'reputation hypothesis'. Third, our findings are also consi stent with (he interest rate hypothesis. We extend the literature by decomposing life insurance products into three types and find that interest rates are positively (negatively) associated with lapse rates of investment-type (protection-type) products. Lapse rates of health products are not related to interest rates. Fourth, our empirical result suggests that high lapse rates can potentially weaken (he insurers' financial soundness and harm new business.</abstract>
<note type="statement of responsibility">Lu Yu, Jiang Cheng, Tzuting Lin</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080586294">
<topic>Mercado de seguros</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080570590">
<topic>Seguro de vida</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080644178">
<geographic>China</geographic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
<identifier type="local">MAP20077100215</identifier>
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<text>01/10/2019 Volumen 44 Número 4 - octubre 2019 , p. 653-678</text>
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