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The Demand for life insurance policy loans

Recurso electrónico / electronic resource
The Demand for life insurance policy loans / Andre P. Liebenberg, James M. Carson, Robert E. Hoyt
Sumario: Previous research has examined the demand for life insurance policy loans using aggregate policy loan data. In contrast, authors use a detailed household survey data set containing life insurance and policy loan information alternatively, and in some cases more directly, examine the four hypotheses traditionally associated with policy loan demand. The research provides the first U.S. evidence (in the postWorld War II period) in support of policy loan emergency fund hypothesis. In particular, authors find that the more detailed emergency fund proxies used here reveal a significantly positive relation between loan demand and recent expense or income shocks