Results 11 to 20 of about 46,253 (234)
Journal of Public Economic Theory, 2007 AbstractAnnuity contracts typically deliver a stream of income at a predetermined level in order to insure against the risk of longevity. This paper explores whether flexible annuities, which give subscribers the possibility to choose between different levels of annuity, are welfare enhancing.
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Upper and lower bounds for annuities and life insurance from incomplete mortality data
Revista Contabilidade & Finanças, 2019 This study aimed to set upper and lower bounds for the expected present value of whole life annuities and whole life insurance policies from incomplete mortality data, generalizing previous results on life expectancy.
Filipe Costa de Souza
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Life Insurance and Annuity Demand under Hyperbolic Discounting
Risks, 2018 In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the model, a number of assumptions are made: complete markets, actuarially fair life insurance/annuity is available, and investors have time-
Siqi Tang, Sachi Purcal, Jinhui Zhang
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Spouses’ Dependence across Generations and Pricing Impact on Reversionary Annuities
Risks, 2016 This paper studies the dependence between coupled lives, i.e., the spouses’ dependence, across different generations, and its effects on prices of reversionary annuities in the presence of longevity risk.
Elisa Luciano, Jaap Spreeuw, Elena Vigna
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Unit-Linked Tontine: Utility-Based Design, Pricing and Performance
Risks, 2022 Due to the low demand for conventional annuities, alternative retirement products are sought. Quite recently, tontines have been frequently brought up as a promising option in this respect.
An Chen, Thai Nguyen, Thorsten Sehner
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Assessing Investment and Longevity Risks within Immediate Annuities [PDF]
, 2007 Life annuities provide a guaranteed income for the remainder of the recipient’s lifetime, and therefore, annuitization presents an important option when choosing an adequate investment strategy for the retirement ages.
Bauer, Daniel, Weber, Frederik
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A Managed Volatility Investment Strategy for Pooled Annuity Products
Risks, 2022 Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products.
Shuanglan Li +3 more
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Value of life and annuity demand [PDF]
Journal of Risk and Insurance, 2020 AbstractHow does the value of life affect annuity demand? To address this question, we construct a portfolio choice problem with three key features: (i) agents have access to life‐contingent assets, (ii) they always prefer living to dying, (iii) agents have nonexpected utility preferences.
Svetlana Pashchenko, Ponpoje Porapakkarm
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The Wealth of Wealthholders. [PDF]
Rev Income WealthABSTRACT Wealth, though crucial for modeling economic behavior and understanding well‐being, is difficult to measure in surveys. This paper introduces a new, comprehensive account‐by‐account approach for eliciting asset holding. This approach is implemented in the Vanguard Research Initiative, a panel of wealthholders designed to yield high‐quality ...
Ameriks J +4 more
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Stochastic Life Annuities [PDF]
North American Actuarial Journal, 2007 Abstract This paper gives analytic approximations for the distribution of a stochastic life annuity. It is assumed that returns follow a geometric Brownian motion. The distribution of the stochastic annuity may be used to answer questions such as “What is the probability that an amount F is sufficient to fund a pension with annual amount y to a ...
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