; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice"; ; "batchuser@example.com"; "Yogo, Motohiro", "Nieuwerburgh, Stijn van", "Koijen, Ralph S. J."; "Federal Reserve Bank of Minneapolis"; "Health insurance", "Life insurance", "Portfolio choice", "Annuities", "Life-cycle model"; "D14 - Household Saving; Personal Finance", "I13 - Health Insurance, Public and Private", "G11 - Portfolio Choice; Investment Decisions", "D91 - Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making"; "We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a portfolio of insurance products. We estimate the model to explain the observed variation in health and mortality delta implied by the ownership of life insurance, annuities including private pensions, and long-term care insurance in the Health and Retirement Study. For the median household aged 51 to 57, the lifetime welfare cost of market incompleteness and suboptimal choice is 3.2% of total wealth."^^; "2015-12-29"; "2019-06-04T13:51:57.121679328+00:00"^^; "https://doi.org/10.21034/sr.499"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 20:57:37 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "868", "563", "411"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "499"; "Annuities", "Life insurance", "Portfolio choice", "Health insurance", "Life-cycle model"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in: _Journal of Finance_ (Vol. 71, No. 2, April 2016, pp. 957-1010) https://doi.org/10.1111/jofi.12273."^^; ; "Publication" . ; .