Measurement of Longevity Risk of Life Annuity Based on C-ROSS Framework
نویسندگان
چکیده
منابع مشابه
“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولAnnuity Decisions with Systematic Longevity Risk
In this paper we investigate the effect of systematic longevity risk, i.e., the risk arising from uncertain future survival probabilities, on the attractiveness of different types of annuities. We consider a life-cycle framework with expected utility where an individual faces both investment and longevity risk. In contrast to existing literature we allow not only for idiosyncratic, but also for...
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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 کاملScale of Longevity Risks for Pension and Life Annuity Providers
Improved longevity is a human triumph. But improved longevity, when it occurs among those who are no longer economically productive, has a cost. Persistent decrease in mortality rates has become a major concern of annuity and pension providers, especially mortality improvements for post-retirement ages which have significant financial impact as far as survival benefits are concerned. There are ...
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ژورنال
عنوان ژورنال: Mathematical Problems in Engineering
سال: 2020
ISSN: 1024-123X,1563-5147
DOI: 10.1155/2020/1746413