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Bernheim, B. Douglas - 1984

Persistent link: https://www.econbiz.de/10001911532

Bernheim, B. Douglas - 1984

In this paper, we argue that actuarial valuation of annuity benefit streams is theoretically inconsistent with the assumption of pure lifecycle motives. Instead, we show that the simple discounted value of future benefits (ignoring the possibility of death) is often a good approximation to the...

Persistent link: https://www.econbiz.de/10012477575

Subjective life expectancy and private pensions : conference paper

Bucher-Koenen, Tabea; Kluth, Sebastian - 2013

One important parameter in the decision process when buying a private annuity is individuals' subjective life expectancy, because it directly infuences the expected rate of return. We examine the market for private annuities in Germany and evaluate potential selection effects based on subjective...

Persistent link: https://www.econbiz.de/10010340956

Life Cycle Insurance and Life Annuity Loads

Arandjelovic, Aleksandar; Kingston, Geoffrey; … - 2023

We re-examine insurance purchases when life insurance and life annuities carry loads. The life cycle literature says that it is optimal to participate in these insurance markets throughout life, even under loads. A life annuity phase backs directly onto a life insurance phase. However, the...

Persistent link: https://www.econbiz.de/10014254442

Life-Cycle Asset Allocation with Annuity Markets : Is Longevity Insurance a Good Deal?

Horneff, Wolfram J.; Maurer, Raimond; Stamos, Michael Z. - 2009

mortality risk. In addition to stocks and bonds, households also have access to incomplete annuity markets offering a hedge … against mortality risk. We show that a considerable fraction of wealth should be annuitized to skim the return enhancing … mortality credit. The remaining liquid wealth (stocks and bonds) is used to hedge labor income risk during work life, to earn …

Persistent link: https://www.econbiz.de/10014220187

Insuring longevity risk and long-term care : bequest, housing, and liquidity

Xu, Mengyi; Alonso-García, Jennifer; Sherris, Michael; … - 2022

Persistent link: https://www.econbiz.de/10013503805

Putting the pension back in 401(k) retirement plans : optimal versus default longevity income annuities

Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2018

A recent US Treasury regulation allowed deferred longevity income annuities to be included in pension plan menus as a default payout solution, yet little research has investigated whether more people should convert some of the $15 trillion they hold in employer-based defined contribution plans...

Persistent link: https://www.econbiz.de/10011932365

Optimal Investment for a Retirement Plan with Deferred Annuities

Owadally, Iqbal - 2019

We construct an optimal investment portfolio model with deferred annuities for an individual investor saving for retirement. The objective function consists of power utility in terms of secured retirement income from the deferred annuity purchases, as well as bequest from remaining wealth...

Persistent link: https://www.econbiz.de/10012862805

Annuity to azzubeydi

McDannald, A. H. (contributor) - 1947

Persistent link: https://www.econbiz.de/10000507122

Mortality contingent claims, health care, and social insurance

Philipson, Tomas J.; Becker, Gary Stanley - 1996

Persistent link: https://www.econbiz.de/10000605011

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