Olivieri, Annamaria - In: Risks : open access journal 9 (2021) 11, pp. 1-18
mortality/longevity experience. This way, guarantees are relaxed in respect of traditional annuity arrangements. On the other … hand, while the annuitant is exposed to the risk of a future reduction of the benefit amount because of higher longevity … factor to be used for pricing and reserving. We assume stochastic mortality, and we compare alternative mortality/longevity …