- The AFS Conference will feature speakers, symposia, and several special sessions. Among them, we will introduce a new panel session for PhD students, highlighting how to best navigate the job market.
- With the generous support of our sponsors, the Academy has awarded several best paper awards during past meetings and we anticipate continuing Best Paper awards in 2021.
- We will continue with our Emerging Scholar Award to a current graduate student for promising research work on a paper or poster presented at the conference.
The Relationship between Life Insurance and Satisfaction with Retirement Income
Keywords
Retirement, Satisfaction with retirement income, Life Insurance, Cash value life insurance, Term life insurance
Short Description
Using data from the 2019 Survey of Consumer Finances, a cross-sectional study of approximately 6,500 households in the United States, this study examines the association between subjective expectations regarding retirement income and the ownership of life insurance policies. Estimation of ordered-probit models reveals that owning a life insurance policy is related positively to higher satisfaction with retirement income. Similarly, having a term-life insurance policy and having a cash-value-life insurance policy are each associated positively with higher satisfaction with retirement income. This study also finds a positive relationship between risk tolerance and expected satisfaction with retirement income. In addition, having a higher income, higher net worth, and being male are all associated with higher probabilities of being satisfied with retirement income.
Lead & Corresponding Author
![[photo]](https://secure.gravatar.com/avatar/8601020491494d71b837843755de1094.png?d=https://proposalspace.com/images/no_photo.png&r=PG&s=50 "Sabina Pandey, CFP®, Texas Tech University")
Sabina Pandey, CFP®, Texas Tech University
Job Title
Graduate Instructor