Su, Shu; Sherris, Michael - In: Insurance: Mathematics and Economics 51 (2012) 2, pp. 322-332
Heterogeneity in mortality rates is known to exist in populations, undermining the use of age and sex as the only rating factors for life insurance and annuity products. Life insurers offering life annuities assume that annuitant lives will self-select, and price the longevity risk with an...
