Longevity insurance benefits are deferred annuities that start payment at an advanced age at which a substantial … their early 80s, but when social security programs were starting in many countries, the age at which longevity insurance … a longevity insurance program, with roughly 50% of those entering the workforce surviving to receive the benefits …

Adverse selection is often blamed for the malfunctioning of the annuities market. We simulate the impact of adverse … of substitutes for annuities such as a bequest motive or a social security system intensifies the adverse selection but …

how much he consumes and how much he invests in stocks, bonds, and annuities. Pricing the annuities we account for … asymmetric mortality beliefs and administration expenses. We show that the retiree does not purchase annuities only once but … rather several times during retirement (gradual annuitization). We analyze the case in which the retiree is restricted to buy …

Bundled insurance contracts, providing protection based on several loss coverages, are attractive because they allow …. Without combined deductibles, it is straightforward to value bundled insurance contracts as the sum of contracts from each … insurers to focus on the needs of the policyholder. A common contract feature is a deductible set so that the insurance pays …