You may be wondering if you can get more from life insurance when your coverage is at risk.
But the answer is “maybe”, according to a new study.
The researchers behind the study, published in the journal Science, looked at the insurance rates of about 12,000 Americans aged 65 and older who were enrolled in Medicare, Medicaid, and private insurance plans.
The study found that for the average beneficiary, those who had higher life insurance coverage received more money for the same cost.
But for those with lower life insurance, the benefits increased only slightly.
“It is not surprising that those who have higher life-insurance coverage will receive less in the future,” said co-author David L. Matson, a professor of economics at Indiana University.
“In a world of rising costs, it may be better to have fewer, and therefore less, people with higher coverage.
But there are some exceptions.”
Life insurance companies also are getting more sophisticated, according to the study.
Some companies now include a computerized “death watch” on the policy, which can automatically trigger a “buyer’s insurance” check when the policy’s policy life expires, and it allows customers to get extra money when their policy runs out.
And there’s an emerging field called “health-related compensation” (HRC), which allows companies to pay people for the cost of their own medical treatment.
However, these strategies are still relatively new, and researchers still have a lot of work to do to understand them.
The study also found that while the average life insurance policyholder received an average of $1,000 more than the average person without a health insurance policy, those with a health policy received $1.6 million more in the first year after the policy was established.
The average life-insured beneficiary received $5,000 less in total.
Life-insured beneficiaries also have more choices for coverage, the study found, with those who choose health insurance spending more on prescription drugs, dental care, and medical equipment than those without health insurance.
In terms of the health-related income, the average policyholder in the study received $18,000 in income for each dollar of coverage, with $2,500 more for each additional $10,000 of coverage.
Life insurance also was the biggest determinant of whether a policyholder had more or less income for the next year.
Life-insurers were also more likely to cover higher-cost items such as a car or other medical equipment.