Using the widely-cited Lee-Carter mortality model, we quantify aggregate mortality risk as the risk that the average … substantial mortality risk. We calculate that a markup of 3.7% on an annuity premium (or else shareholders' capital equal to 3 …. Insurance companies could deal with aggregate mortality risk by transferring it to financial markets through mortality …

mortality risk, and one with consumers who are misguided about their life expectancy, and find that our data are most consistent …

We develop a macroeconomic model with physical and human capital, human capital risk, and limited contract enforcement …. We show analytically that young (high-return) households are the most exposed to human capital risk and are also the … least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …

We study aggregate lapsation risk in the life insurance sector. Using the regulatory reporting of historical lapse … risk factors that explain a large fraction of the common variation in lapse rates of the 30 largest life insurance … examine the heterogeneity in risk factor exposures based on policy and policyholder characteristics. Young policyholders with …