An annuity is an insurance contract where a person (the annuitant) pays a premium upfront to obtain a stream of future payments until his or her death. To assess the value of an annuity, we calculate the ratio of the expected present value of annuity income to the annuity premium − this is...

Improvements in life expectancy and the fall in interest rates have had a significant impact on annuity rates but not on their Money's Worth (MW). Following the ban of gender-based price discrimination, MW has decreased for male annuitants and increased for female annuitants. This paper...