Relationship between Female Illness and Savings: Evidence from Japanese Women

The International Journal of Business and Finance Research, v. 9 (4) p. 1-10, 2015

10 Pages Posted: 6 Feb 2016

See all articles by Yoko Mimura

Yoko Mimura

California State University, Northridge - Department of Family and Consumer Sciences

Kim Love-Myers

University of Georgia

Janine E. Aronson

University of Georgia

Date Written: 2015

Abstract

Unexpected life events, such as the onset of illness, can alter our ability to follow the life cycle model of personal financial planning, yet there are limited studies at a micro-level examining such impacts among households in Japan. We assessed the association between the onset of illness and the presence and amount of financial savings among married and single middle-aged women, using the Japanese Panel Survey of Consumers (2005-2009) and Analysis of Covariance (ANCOVA). Compared to married women (n=27), single women (n=16) spent more on life insurance premiums following an illness than the year before. Unlike married women, none of the single women had savings or investments prior to the onset of illness, not to mention following such events. In conclusion, middle-aged single women, a growing population in modern Japan, are further disadvantaged following the onset of illness than their married counterparts.

Keywords: Health, Investments, Japan, Life Insurance, Marital Status, Savings, Women

JEL Classification: D140, J120

Suggested Citation

Mimura, Yoko and Love-Myers, Kim and Aronson, Janine E., Relationship between Female Illness and Savings: Evidence from Japanese Women (2015). The International Journal of Business and Finance Research, v. 9 (4) p. 1-10, 2015, Available at SSRN: https://ssrn.com/abstract=2655169

Yoko Mimura (Contact Author)

California State University, Northridge - Department of Family and Consumer Sciences ( email )

18111 Nordhoff Street
Northridge, CA 91330-8308
United States

Kim Love-Myers

University of Georgia ( email )

Athens, GA 30602-6254
United States

Janine E. Aronson

University of Georgia ( email )

Department of Management Information Systems
Terry College of Business
Athens, GA Georgia 30602-6273
United States
7065420991 (Phone)

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