Abstract
Life insurance, a risk management tool, generally provides ways to protect against the financial loss due to an individual’s death. This study investigates risk tolerance profile of cash-value life insurance owners and attempts to investigate the association between life insurance ownership and subjective attitude toward different domains of risk by comparing with two logistic models. Inconsistencies exist in risk tolerance in different domains, specifically, life insurance owners are risk-averse in general, but they are risk takers in other domains.
Published Version
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