This paper reports survey evidence on long-term care (LTC) risk misperceptions and demand for long-term care insurance (LTCI) in Canada. LTC risk misperceptions is divided into three different risks: needing help for at least one activity of daily life, needing access to a nursing home, and living to be 85 years old. We contrast subjective (i.e. stated) probabilities with actual probabilities for these three dimensions. We first provide descriptive statistics of how objective and subjective probabilities differ and correlate to each other. Second, we study cross-correlations between different types of risks. We then study how risk misperceptions correlate with individual characteristics, and evaluate how misperceptions affect intentions and actual purchase of LTCI. Our conclusions are two-fold. First, we find that most subjects are not well informed about their individual LTC risks, making it difficult for them to take the correct LTCI decisions. Second, and even though misperceptions explain an individuals actual or his intentions to take-up LTCI, misperceptions are unlikely to explain the poor take-up rate of LTCI in our sample.



Voir le document

Dernières publications

2018MO-02 MO
Baromètre CIRANO 2018 - La perception des risques au Québec
Ingrid Peignier et Nathalie de Marcellis-Warin
Voir le document

2018s-20 CS
Long-term Care Risk Misperceptions
M. Martin Boyer, Claude Fluet, Marie-Louise Leroux, Pierre-Carl Michaud et Philippe De Donder
Voir le document

2018RP-11 RP
The Value of Food Certification and Labels for Consumers in Québec (Canada)
Nathalie de Marcellis-Warin, Ingrid Peignier et Yoann Guntzburger
En savoir plus


Centre interuniversitaire de recherche en analyse des organisations
1130 rue Sherbrooke Ouest, suite 1400
Montréal, Québec (Canada) H3A 2M8
(514) 985-4000
(514) 985-4039
reception@cirano.qc.ca

© 2018 CIRANO. Tous droits réservés.



Partenaire de :