An Analysis of the Effect of Income on Life Insurance
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Author(s)
Bryan, Justin
Proctor, Austin
Stoklosa, Kathryn
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Abstract
This paper aims to analyze the relationship between the gross
national income per capita and the premiums per capita of life insurance in
the Organization for Economic Co-operation and Development (OECD) countries.
The data used comes from OECD.org, a collection of data from the OECD
countries collected over the time period of OECD’s existence. We analyzed
data over a three year period, from 2010 to 2012, using data from 22 of the
46 OECD countries. We included a total of six variables in our restricted
model: gross national income per capita, life expectancy, youth dependency
population (0-17), long term interest rates, life insurance as share of the
entire insurance market, and fertility rate. In both our simple and multiple
regression models, we can see the positive correlation between gross national
income per capita and premiums per capita of life insurance. This brings us
to state that there is a statistically significant positive correlation
between the level of gross national income per capita and the premiums per capita of life insurance in OECD countries.
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Date
2015-04
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Text
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Undergraduate Research Paper