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- Title
AUTHOR'S REPLY.
- Authors
Wood, Glenn L.
- Abstract
The article presents the authors' response to insurance researchers Joseph M. Belth and George E. Rejda's comment on his paper "Life Insurance Policy Loans: The Emergency Fund Concept." According to the author, Rejda's comments appear to be in almost complete agreement with his statements and conclusions. Beith's first criticism stated that the paper did not draw a distinction between the policy loan provision and the savings element in a life insurance policy. The paper did not propose to examine the broader concept of the savings element as an emergency reserve. The study had the purpose of testing the hypothesis that policyholders generally regard policy loans as a reserve to be used only in times of stringent financial circumstances. Belth questions both the numerators and denominators of my data. The numerators do not include bank loans collateralized by cash values. This observation is relevant for the purpose of testing the broader hypothesis which he proposes, but it would be incorrect to include bank loan figures for the purpose of testing the hypothesis under examination in the paper.
- Subjects
LOANS; LIFE insurance; FINANCE; DISPOSABLE income; BANKING industry; POLICYHOLDERS
- Publication
Journal of Risk & Insurance, 1966, Vol 33, Issue 2, p325
- ISSN
0022-4367
- Publication type
Article
- DOI
10.2307/251045