How Strong are Bequest Motives? Evidence Based on Estimates of the Demand for Life Insurance and Annuities /
Bernheim, B. Douglas.
How Strong are Bequest Motives? Evidence Based on Estimates of the Demand for Life Insurance and Annuities / B. Douglas Bernheim. - Cambridge, Mass. National Bureau of Economic Research 1989. - 1 online resource: illustrations (black and white); - NBER working paper series no. w2942 . - Working Paper Series (National Bureau of Economic Research) no. w2942. .
April 1989.
This paper presents new empirical evidence in support of the view that a significant fraction of total saving is motivated solely by the desire to leave bequests. Specifically, I find that Social Security annuity benefits significantly raise life insurance holdings and depress private annuity holdings among elderly individuals. These patterns indicate that the typical household would choose to maintain a positive fraction of its resources in bequeathable forms, even if insurance markets were perfect. Evidence on the relationship between insurance purchases and total resources reinforces this conclusion.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
How Strong are Bequest Motives? Evidence Based on Estimates of the Demand for Life Insurance and Annuities / B. Douglas Bernheim. - Cambridge, Mass. National Bureau of Economic Research 1989. - 1 online resource: illustrations (black and white); - NBER working paper series no. w2942 . - Working Paper Series (National Bureau of Economic Research) no. w2942. .
April 1989.
This paper presents new empirical evidence in support of the view that a significant fraction of total saving is motivated solely by the desire to leave bequests. Specifically, I find that Social Security annuity benefits significantly raise life insurance holdings and depress private annuity holdings among elderly individuals. These patterns indicate that the typical household would choose to maintain a positive fraction of its resources in bequeathable forms, even if insurance markets were perfect. Evidence on the relationship between insurance purchases and total resources reinforces this conclusion.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.