liability modeling on the hedge efficiency of GLWB guarantees with respect to three significant systematic risks for these … rates are shown to have primary importance in the guarantee liability modeling of GLWB guarantees. This paper also analyzes … the impact of the outer loop modeling of mortality on the hedge efficiency of GLWB guarantees. A risk allocation between …

attention on the Compensation Law of Mortality which implies that individuals with higher relative mortality (e.g. lower income …