A Different Perspective on Retirement Income Sustainability:The Blueprint for a Ruin Contingent Life Annuity (RCLA)
نویسندگان
چکیده
منابع مشابه
Valuation and Hedging of the Ruin-Contingent Life Annuity (RCLA)
VALUATION AND HEDGING OF THE RUIN-CONTINGENT LIFE ANNUITY This paper analyzes a type of mortality contingent-claim called a ruin-contingent life annuity (RCLA). This product is essentially a stand-alone version of the option embedded inside of a variable annuity, but without the buyer having to hand-over investment assets to the insurance company. The annuitant’s (i.e. long position) payoff fro...
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The present paper considers a retiree of a certain age with an initial endowment of investable wealth facing the following alternative investment opportunities. One possibility is to buy a single premium immediate annuity-contract. This insurance contract pays a life-long constant pension payment of a certain amount, depending e.g. on the age of the retiree, the operating cost of the insurance ...
متن کاملAnnuity Markets and Retirement Security
* James M. Poterba is the Mitsui Professor of Economics at the Massachusetts Institute of Technology. Professor Poterba is also a Research Associate at the National Bureau of Economic Research (NBER) and the Director of the NBER's Public Economics Research Program. The research reported herein was supported in part by the Center for Retirement Research at Boston College pursuant to a grant from...
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چکیده ندارد.
15 صفحه اولON TRUNCATED MEASURES OF INCOME INEQUALITY FROM A FUZZY PERSPECTIVE
In most statistical analysis, inequality or extent of variation in income isrepresented in terms of certain summary measures. But some authors arguedthat the concept of inequality is vague and thus cannot be measured as anexact concept. Therefore, fuzzy set theory provides naturally a useful toolfor such circumstances. In this paper we have introduced a real-valued fuzzymethod of illustrating t...
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ژورنال
عنوان ژورنال: The Journal of Wealth Management
سال: 2009
ISSN: 1534-7524,2374-1368
DOI: 10.3905/jwm.2009.11.4.089