In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of … documented in real insurance markets. …

Post retirement, annuities provide a steady stream of income for retirees. However, the annuitization rate is … relatively small in the insurance market in many countries around the world. Prior studies have shown that a substandard health … status in retirement reduces annuitization due to adverse selection. Recent innovation introduces an enhanced annuity plan …

medical insurance. We find that both the level and the shape of the distribution of risk are important in determining the … equilibrium quantity of insurance. Symmetric changes in risk (e.g., shifts in the price of medical care) better explain the … shifting insurance rate over time. Asymmetric changes (e.g., associated with a shifting age distribution) are not as important. …

The purpose of this paper is to conduct a market-consistent valuation of life insurance participating liabilities sold … various degrees of conservativeness of the insurer when pricing the contracts. …

We are interested in defining the optimal retirement age by socio-economic class, given a Defined Benefit and a …. Therefore, we provide an alternative based on two accounts. We look for the retirement age allowing the accumulated value, at … lower retirement age for lower socio-economic classes and a higher retirement age for wealthier individuals. …

Europe are setting up pension reforms linking the retirement age and/or benefits to life expectancy. In this context, the … on the expected residual life to adjust the retirement age and keep costs at an expected budgeted level, in the spirit of … sharing the longevity risk between Social Security Systems and retirees. In order to combine fitting and projections …

Increasing retirement ages in an automatic or scheduled way with increasing life expectancy at retirement is a popular … pension policy response to continuous longevity improvements. The question addressed here is: to what extent is simply … process, model, and parameter risks. The results show that: (i) retirement ages are forecasted to increase substantially in …

bootstrapping techniques. For completeness, projection results for both genders were also illustrated in pricing insurance …

Disaggregation of mortality by cause has advanced the development of life tables for life insurance and pension … determine relationships among causes of death such as HIV/AIDS and their impact on mortality and longevity risks seem trivial or … values, the survival Joe copulas proved to be a suitable model. The contribution and implication of this research are the …

. Moreover, we also examine the jump-free and jump models in terms of their impact on insurance pricing, specifically term … annuity and life insurance present values calibrated for both pre- and post-COVID data. …