Abstract
Premature death of a breadwinner can have devastating financial consequences on surviving dependents. This study investigates the role of life insurance in mitigating the long-run financial consequences of spousal mortality. Using the Health and Retirement Study, we examine individuals whose spouses died during or soon after his or her peak earnings years. After controlling for socioeconomic status, we find that sizable lump-sum life insurance payouts do not significantly influence spousal well-being. (JEL D31, G22, I31, J32, J33, J38).
| Original language | English |
|---|---|
| Pages (from-to) | 526-538 |
| Number of pages | 13 |
| Journal | Contemporary Economic Policy |
| Volume | 36 |
| Issue number | 3 |
| DOIs | |
| State | Published - Jul 2018 |
Bibliographical note
Publisher Copyright:© 2016 Western Economic Association International
ASJC Scopus subject areas
- Business, Management and Accounting (all)
- Economics and Econometrics
- Public Administration