Gender-based differences in life insurance ownership

This article estimates the influence of income and the value of household production on the amount of life insurance purchases for both husbands and wives, and investigates whether the response of life insurance purchases to these two key motives differs by gender. The results indicate that there are meaningful differences between husbands and wives in their demand for life insurance functions. Although money income is the most significant determinant of life insurance holdings for both husbands and wives, there is evidence that contributions to household production also influence the purchase of life insurance.