本文旨在探討儲蓄、所得與保險的相互關係，設定消費者的效用函數為可加型兩期預期效用函數，並假設不確定所得與損失服從二變數常態分配。我們發現在沒有附加保險費時，消費者之最適投保比率等於1減避險比率，此結果與個人之效用函數無關，其中避險比率為所得與損失的共變數除以損失的變異數。在有附加保險費時，由於消費者財富或附加保險費率改變，所致最適投保比率的改變情形，與個人之總體絕對風險趨避係數有關。

This study develops a model to understand how savings, income and insurance are related. Individuals are assumed to have an expected utility function that covers a two-period time additive. Additionally, income and loss are assumed to be bivariate normally distributed. Without insurance loading, analysis results indicate that the optimal insurance coverage ratio equals one less hedging ratio and is independent of individual utility, whereas the hedging ratio exactly equals the covariance of income and loss divided by the variance of loss. With insurance loading, the change in an individual's optimal insurance coverage ratio with respect to a change in an individual wealth or insurance loading rate is related to the global absolute risk aversion.