Why the Use of Age and Disability Matters

8/10/2019 Why the Use of Age and Disability Matters

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Oxera Why the use of age and disability matters toconsumers and insurers

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Benefits per female policyholder

Note: Benefits concern the average benefits paid by insurance companies to female policyholders of differingages in 2001.Source: Figure 7.3 is an adaptation of Figure 4 in Riedel, H. (2003), Private Compulsory Long-Term CareInsurance in Germany, The Geneva Papers on Risk and Insurance , 28 :2, pp. 27593.

A1.4.6 Private medical insuranceClaim costs

Note: Claim costs are presented as index numbers. The value of claim costs for males in the age category 2125has been set equal to 100.Source: Data provided by PKV has been converted into index numbers.

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1620 2125 2630 3135 3640 4145 4650 5155 5660 6165 6670 7175 7680 8185 8690 9195 over 95

C l a i m

c o s t

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b e r )

Age categories

Females Males


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Costs of outpatient treatment by age

Note: Costs of outpatient treatment are presented by index numbers. The value of index numbers for females andmales in the age category 2125 has been set equal to 100.Source: Data provided by PKV has been converted into index numbers.

Costs of hospital care by age

Note: Costs of hospital care are presented by index numbers. The value of index numbers for females and malesin the age category 2125 has been set equal to 100.Source: Data provided by PKV has been converted into index numbers.

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C o s t s o f o u t p a t i e n t t r e a t m e n t

Age categories

Females Males

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Age c atego ries

Females Males


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Premiums and claims costs for males

Note: Claim cost data have been converted into index numbers with a value of 100 for males aged 40.Source: Premiums have been calculated using premium data collected from the premium comparison website,http://www.beste-private-krankenversicherung.de/ . Claim cost data provided by PKV.

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Claim cost


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A1.5 Italy

A1.5.1 Term li fe insuranceFemales

Note: Premiums paid for term life insurance offering a cover of 200,000 in the event of death during the next tenyears; mortality rate represents the probability a policyholder will die during the next ten years.Source: Premiums collected from http://www.facile.it/assicurazioni-vita.html ; mortality data obtained fromhttp://en.istat.it/sanita/sociosan/index.html

Males

Note: Premiums paid for term life insurance offering a cover of 200,000 in the event of death during the next tenyears; mortality rate represents the probability a policyholder will die during the next ten years.Source: Premiums collected from http://www.facile.it/assicurazioni-vita.html ; mortality data obtained fromhttp://en.istat.it/sanita/sociosan/index.html .

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t e M o n

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Mortality rate

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Mortality rate


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A1.5.2 Motor in suranceFemales

Note: Premiums paid for motor third-party liability insurance varying in age keeping other factors fixed; claim costsare presented by index number allowing the comparison of relative claim costs per age category. The indexnumber has been set at a value of 100 for a 40-year-old driver.Source: Premiums collected from htttp://www.assicurazione.it/ ; ANIA provided claim cost data.

Males: premiums and claim costs

Note: Premiums paid for motor third-party liability insurance varying in age keeping other factors fixed; claim costsare presented by index number allowing comparing relative claim costs per age category. The index number hasbeen set at a value of 100 for a 40-year-old driver.Source: Premiums collected through htttp://www.assicurazione.it/ ; ANIA provided claim cost data.

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Age of policyholder

Claim cost

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Males: claim frequency and average cost per claim filed

Note: Claim frequency represents the probability that a policyholder will file a claim; the average claim costindicates the average claim cost in the event policyholders filed a claim.Source: ANIA, presented in Statistica Annuale RC Auto Esercizio 2009 e Rilevazione ad hoc Dati CARD,December 20th 2010.

A1.5.3 Private medical insurancePremiums by age category

Note: Premiums are presented in the form of index numbers allowing comparison of premiums for differing agecategories. The index number has been set at a value of 100 for premiums in the age category 3540.Source: ANIA provided net premium ratios, which have been used to establish index numbers for differing agecategories.

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er a g e c l ai m c

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Age of policyholder

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Cost per claim

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P r e m

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Age categories (blocks of five years)


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A1.6 The Nether lands

A1.6.1 Term li fe insuranceFemales

Note: Premiums paid for term life insurance offering cover of 200,000 in the event of death during the next tenyears; mortality rate represents the probability a policyholder dies during the next ten years.Source: Premiums obtained from http://www.independer.nl/ ; mortality data obtained from www.ag-ai.nl/ .

Males

Note: Premiums paid for term life insurance offering cover of 200,000 in the event of death during the next tenyears; mortality rate represents the probability a policyholder dies during the next ten years.Source: Premiums collected from http://www.independer.nl/ ; mortality data obtained from www.ag-ai.nl/ .

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Mortality rate

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Mortality rate


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A1.6.2 Pension annuit iesFemales

Note: Pensions paid out when making a lump-sum investment of 200,000 in annuities; life expectancy indicatesthe expected number of years a policyholder will live.Source: Pensions collected from http://www.pensioenkoers.nl/direct-berekenen/ ; life expectancies established usingmortality data attained from www.ag-ai.nl/ .

Males

Note: Pensions paid out when making a lump-sum investment of 200,000 in annuities; life expectancy indicatesthe expected number of years a policyholder will live.Source: Pensions obtained from http://www.pensioenkoers.nl/direct-berekenen/ ; life expectancies established usingmortality data obtained from www.ag-ai.nl/ .

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Life expectancyLife expectancy

Pension

Life expectancy


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A1.6.3 Motor in suranceFemales

Note: Premiums paid for motor third-party liability insurance keeping factors other than age and gender fixed;claim cost reflects relative claim costs per age category with a value of 100 for a 40-year-old driver.Source: Premiums obtained from http://www.independer.nl/ ; claim cost data provided by Verbond van Verzekeraars.

Males

Note: Premiums paid for motor third-party liability insurance keeping factors other than age and gender fixed;claim cost reflects relative claim costs per age category with a value of 100 for a 40-year-old driver.Source: Premiums obtained from http://www.independer.nl/ ; claim cost data provided by Verbond van Verzekeraars.

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Claim cost

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A1.6.4 Disabili ty in suranceMales

Note: Premiums concern premiums paid for disability insurance providing cover to a policyholder in the event hewould be unable to work in his current profession. A gross income of 40,000 and a minimum disabilitypercentage of 25% were assumed. Average premiums for the age categories presented in the figure werecalculated using premiums for differing ages.Source: Verbond van Verzekeraars provided perceived risk percentages, which are calculated by dividing thepayment within a fiscal year by the insured amount in that same year. Premiums collected fromhttp://www.datishetverschil.nl/ .

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ei v

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Age categories

Premium Perceived risk percentage


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A1.7 Group of selec ted countries

A1.7.1 Long-term care insurance

Note: Prevalence is determined on the basis of self-reporting. No data available for the UK.Source: Based on Figure 3 in DG Employment, Social Affairs and Equal Opportunities of the EuropeanCommission (2008), Long-term care insurance in the European Union.

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P r e v a

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Age categories

Czech Republic Germany Franc e Italy Netherlands


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Why the Use of Age and Disability Matters

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