PISCOPO, GABRIELLA - In: Perspectives of Innovation in Economics and Business (PIEB) 5 (2010) 2, pp. 47-49
In this paper we present a price model for the Guaranteed Lifelong Withdrawal Benefit, an option embedded in Variable Annuity policies, which gives the insured the possibility to withdraw from a fund a guaranteed amount annually, even if the account value has fallen below this amount. We...