منابع مشابه
The Longevity Annuity: An Annuity for Everyone?
As of 2005, U.S. individuals had an estimated $7.4 trillion invested in IRAs and employersponsored retirement accounts. Many retirees will thus face the difficult problem of turning a pool of assets into a stream of retirement income. Purchasing an immediate annuity is a common recommendation for retirees trying to maximize retirement spending. The vast majority of retirees, however, are unwill...
متن کاملToo Risk Averse to Purchase Insurance? A Theoretical Glance at the Annuity Puzzle
We show that, as soon there exists a positive bequest motive, sufficiently risk averse individuals should not purchase annuities. This suggests therefore a new explanation for the low level of annuitization, which is valid even if one assumes perfect markets. A model calibration accounting for temporal risk aversion generates an optimal level of annuitization of only 25% of the total savings.
متن کاملNICE and its value judgments: favourable appraisal amounts to compulsory purchase order.
The reason why NICE has not appraised yoga or transcendental meditation for stress and hypertension, or a lifestyle intervention involving 3-4 kg weight loss and 150 minutes of moderately vigorous physical activity a week as a "technology" that cuts the risk of overt diabetes by 50% is obvious. It would have been interesting to see how the implementation of such technologies would have been enf...
متن کاملGuaranteed Annuity Options
Under a guaranteed annuity option, an insurer guarantees to convert a policyholder’s accumulated funds to a life annuity at a fixed rate when the policy matures. If the annuity rates provided under the guarantee are more beneficial to the policyholder than the prevailing rates in the market the insurer has to make up the difference. Such guarantees are common in many US tax sheltered insurance ...
متن کاملAdverse Selection in Annuity Markets: Evidence from the British Life Annuity Act of 1808
We study adverse selection using data from an 1808 Act of British Parliament that effectively opened a market for life annuities. Our analysis indicates significant selection effects. The evidence for adverse selection is strongest for a sub-sample of annuitants whose annuities were purchased by profit-seeking speculators, a sub-sample in which “advantageous selection” resulting from multi-dime...
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ژورنال
عنوان ژورنال: Pensions: An International Journal
سال: 2002
ISSN: 1750-208X
DOI: 10.1057/palgrave.pm.5940216