| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29689 |
| 来源ID | Working Paper 29689 |
| Long-Term Care Insurance Financing Using Home Equity Release: Evidence from an Online Experimental Survey | |
| Katja Hanewald; Hazel Bateman; Hanming Fang; Tin Long Ho | |
| 发表日期 | 2022-01-24 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | This paper explores new mechanisms to fund long-term care using housing wealth. Using data from an online experimental survey fielded to a sample of 1,200 Chinese homeowners aged 45-64, we assess the potential demand for new financial products that allow individuals to access their housing wealth to buy long-term care insurance. We find that access to housing wealth increases the stated demand for long-term care insurance. When they could only use savings, participants used on average 5% of their total (hypothetical) wealth to purchase long-term care insurance. When they could use savings and a reverse mortgage, participants used 15% of their total wealth to buy long-term care insurance. With savings and home reversion, they used 12%. Reverse mortgages do not require regular payments until the home is sold, while home reversion involves a partial sale and leaseback. Our results inform the design of new public or private sector programs that allow individuals to access their housing wealth while still living in their homes. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions |
| URL | https://www.nber.org/papers/w29689 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587363 |
| 推荐引用方式 GB/T 7714 | Katja Hanewald,Hazel Bateman,Hanming Fang,et al. Long-Term Care Insurance Financing Using Home Equity Release: Evidence from an Online Experimental Survey. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29689.pdf（769KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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