Life Annuity Products And Their Guarantees
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Life Annuity Products And Their Guarantees
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2016-12-05
Life Annuity Products And Their Guarantees written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-05 with categories.
This publication helps policy makers to better understand annuity products and the guarantees they provide in order to optimise the role that these products can play in financing retirement.
Life Annuities
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Author : ERMANNO. PITACCO
language : en
Publisher:
Release Date : 2021
Life Annuities written by ERMANNO. PITACCO and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
From Benefits To Guarantees
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Author : Ermanno Pitacco
language : en
Publisher:
Release Date : 2013
From Benefits To Guarantees written by Ermanno Pitacco and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Many modern insurance products are designed as packages, whose items may be either included or not in the product actually purchased by the client. For example: the endowment insurance which can include various rider benefits and options, the Universal Life insurance, the Variable Annuities, the presence of possible LTC benefits in pension products.The benefits provided by these products imply a wide range of 'guarantees' and hence risks borne by the insurance company (or the pension fund). Guarantees and inherent risks clearly emerge in recent scenarios, in particular because of volatility in the financial markets and trends in mortality/longevity. Appropriate modeling tools are then needed for pricing and reserving. Hence, a progressive shift from expected present values, and their prominent role in life insurance (and pension) calculations, to more modern and complex approaches, viz the Enterprise Risk Management based approach, is currently updating the actuarial toolkit.However the implementation of complex mathematical methods often constitutes, on the one hand, an obstacle on the way towards sound pricing and reserving principles. On the other hand, facing the risks by charging very high premiums trivially reduces the insurer's market share. Then, alternative solutions can be suggested by an appropriate product design which aims at sharing risks between the insurer and the policyholders. Interesting examples are provided by the design of life annuities as regards the longevity risk, and by profit participation mechanisms as regards the financial market risks.
Pension And Annuity Income
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Author : United States. Internal Revenue Service
language : en
Publisher:
Release Date : 1990
Pension And Annuity Income written by United States. Internal Revenue Service and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Annuities categories.
Annuities For Dummies
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Author : Kerry Pechter
language : en
Publisher: John Wiley & Sons
Release Date : 2011-02-09
Annuities For Dummies written by Kerry Pechter and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-09 with Business & Economics categories.
Why look into annuities? If you’re a Baby Boomer with little or no pension and most of your money in low-interest savings accounts, an annuity may be the key to a secure and comfortable retirement. How can you find out whether an annuity is right for you? Read Annuities For Dummies, 3rd Edition. This completely revised and updated, plain-English guide is packed with the latest information on choosing the best annuity for your retirement needs. You’ll find out exactly what annuities are, whether they’re the right financial vehicle for you, and which of the many annuity options might have your name on it. You’ll learn the ins and outs of using annuities to fund your retirement years, figure out whether to stress investments with insurance or insurance with investments, and find out how the right combination of annuities can help you squeeze more income out of your savings that any other financial tool. Discover how to: Identify the main types of annuities Weigh the pros and cons of annuities for yourself Minimize the complexity and cost of your annuity investment Figure out how much money to commit Avoid common annuity pitfalls Create an income you can’t outlive The time to start securing your financial future is now. Annuities For Dummies, 3rd Edition, gives you knowledge, insider tips, and expert advice you need to make your money do its best for you.
Pensionize Your Nest Egg
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Author : Moshe A. Milevsky
language : en
Publisher: John Wiley and Sons
Release Date : 2010-10-08
Pensionize Your Nest Egg written by Moshe A. Milevsky and has been published by John Wiley and Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-08 with Business & Economics categories.
Pensionize Verb. 1. To convert money into income you can't outlive. 2. To create your own personal pension, a monthly income that lasts for the rest of your natural life. With the subpar performance of the markets, record-high personal debt levels, and shockingly low savings rates, it's clear that many Canadians expecting to retire in the next decade simply don't have a sufficient nest egg to ensure a worry-free retirement. Making matters worse, only about one-third of Canadians currently belong to a formal, or registered, pension plan; and even a large number of that "lucky third" will not retire with a guaranteed pension income. If you no longer have the time to wait and hope for your traditional investments to pay off, the answer is to "pensionize your nest egg" using the new technique of product allocation set out in this book. Pensionize Your Nest Egg explains how to Recognize if you really have a pension or just a tax-sheltered savings plan. Become informed about the new risks you and your nest egg face in retirement and why asset allocation, despite its value in the accumulation stage of life, is not sufficient to protect you and your money. Measure your retirement sustainability quotient (RSQ) and your Financial Legacy Value (FLV)-then choose a retirement income plan on the Retirement Income Frontier. Understand how product allocation differs from asset allocation, how to allocate your nest egg across three product silos, and learn about the new financial products that are available to protect against the new risks you face. Follow a seven-step process to close your Pension Income Gap and convert your retirement savings into a secure stream of lifetime income. Whether you do it yourself or work with a financial advisor, Pensionize Your Nest Egg gives you a simple plan to create a guaranteed retirement income-for life.
Innovations In Quantitative Risk Management
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Author : Kathrin Glau
language : en
Publisher: Springer
Release Date : 2015-01-09
Innovations In Quantitative Risk Management written by Kathrin Glau and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-09 with Mathematics categories.
Quantitative models are omnipresent –but often controversially discussed– in todays risk management practice. New regulations, innovative financial products, and advances in valuation techniques provide a continuous flow of challenging problems for financial engineers and risk managers alike. Designing a sound stochastic model requires finding a careful balance between parsimonious model assumptions, mathematical viability, and interpretability of the output. Moreover, data requirements and the end-user training are to be considered as well. The KPMG Center of Excellence in Risk Management conference Risk Management Reloaded and this proceedings volume contribute to bridging the gap between academia –providing methodological advances– and practice –having a firm understanding of the economic conditions in which a given model is used. Discussed fields of application range from asset management, credit risk, and energy to risk management issues in insurance. Methodologically, dependence modeling, multiple-curve interest rate-models, and model risk are addressed. Finally, regulatory developments and possible limits of mathematical modeling are discussed.
Investment Guarantees
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Author : Mary Hardy
language : en
Publisher: John Wiley & Sons
Release Date : 2003-03-06
Investment Guarantees written by Mary Hardy and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-06 with Business & Economics categories.
A comprehensive guide to investment guarantees in equity-linked life insurance Due to the convergence of financial and insurance markets, new forms of investment guarantees are emerging which require financial service professionals to become savvier in modeling and risk management. With chapters that discuss stock return models, dynamic hedging, risk measures, Markov Chain Monte Carlo estimation, and much more, this one-stop reference contains the valuable insights and proven techniques that will allow readers to better understand the theory and practice of investment guarantees and equity-linked insurance policies. Mary Hardy, PhD (Waterloo, Ontario, Canada), is an Associate Professor and Associate Chair of Actuarial Science at the University of Waterloo and is a Fellow of the Institute of Actuaries and an Associate of the Society of Actuaries, where she is a frequent speaker. Her research covers topics in life insurance solvency and risk management, with particular emphasis on equity-linked insurance. Hardy is an Associate Editor of the North American Actuarial Journal and the ASTIN Bulletin and is a Deputy Editor of the British Actuarial Journal.
Handbook Of The Equity Risk Premium
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Author : Rajnish Mehra
language : en
Publisher: Elsevier
Release Date : 2011-08-11
Handbook Of The Equity Risk Premium written by Rajnish Mehra and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-11 with Business & Economics categories.
Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in the prices of capital assets that are at odds with the predictions of standard economic theory.
Modelling Longevity Dynamics For Pensions And Annuity Business
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Author : Ermanno Pitacco
language : en
Publisher: OUP Oxford
Release Date : 2009-01-29
Modelling Longevity Dynamics For Pensions And Annuity Business written by Ermanno Pitacco and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-29 with Business & Economics categories.
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.